This compound is primarily utilized in the field of photochemistry and electrochemistry due to its unique photophysical properties. It serves as a photosensitizer in solar energy conversion systems, particularly in dye-sensitized solar cells (DSSCs), where it enhances light absorption and electron transfer efficiency. Additionally, it is employed in photocatalytic reactions, aiding in the degradation of pollutants and the synthesis of organic compounds. Its stability and redox properties make it suitable for use in electrochemical sensors and as a catalyst in various oxidation-reduction processes. The compound is also explored in research for its potential applications in light-emitting devices and molecular electronics.