This compound is widely utilized in the field of catalysis, particularly in oxidation reactions. Its structure allows it to act as a robust catalyst for the selective oxidation of hydrocarbons, making it valuable in industrial processes where precise control over reaction outcomes is essential. Additionally, it is employed in photodynamic therapy (PDT) for cancer treatment due to its ability to generate reactive oxygen species (ROS) when exposed to light, effectively targeting and destroying cancer cells. In materials science, it is used in the development of advanced organic semiconductors and sensors, leveraging its unique electronic properties for improved performance in devices. Its application in dye-sensitized solar cells (DSSCs) also highlights its potential in renewable energy technologies, where it enhances light absorption and energy conversion efficiency.