This chemical is widely used in the field of photodynamic therapy (PDT) due to its ability to generate reactive oxygen species when exposed to light. It serves as a photosensitizer, targeting and destroying cancer cells with minimal damage to surrounding healthy tissues. Additionally, it is employed in the development of advanced materials for organic electronics, such as organic light-emitting diodes (OLEDs) and solar cells, owing to its excellent light absorption and emission properties. Its structural stability and functional groups also make it a valuable component in the design of chemical sensors for detecting specific molecules or ions in analytical chemistry.