Used as a nonlinear optical material in laser technology and optoelectronic devices due to its strong two-photon absorption properties. Commonly applied in fluorescence imaging and as a photosensitizer in photodynamic therapy for cancer treatment. Also utilized in electrochemical sensors for detecting anions and biological molecules. Its high molar absorptivity and good solubility in polar solvents make it suitable for dye-sensitized solar cells and organic light-emitting diodes (OLEDs).