This compound is widely used in electrochemical and photochemical applications due to its strong luminescent properties. It serves as a key component in dye-sensitized solar cells, enhancing their efficiency by acting as a photosensitizer. Additionally, it is utilized in chemiluminescence studies and as a redox indicator in analytical chemistry. Its ability to emit light under specific conditions makes it valuable in bioimaging and molecular sensing technologies. The compound is also employed in research focused on energy transfer processes and catalysis, particularly in photocatalytic reactions.