Used primarily in research as a fluorescent probe due to its ability to intercalate into DNA, making it valuable for studying nucleic acid structure and function. Its derivatives are explored in medicinal chemistry for potential antitumor and antimicrobial activities. Also employed in the development of sensors for metal ions and biomolecules, leveraging its strong fluorescence properties. Additionally, it serves as a building block in synthesizing more complex heterocyclic compounds for pharmaceutical and materials science applications.