Used as a fluorescent probe in biological research, it helps in studying membrane dynamics and lipid interactions due to its lipophilic nature. It is also employed in the detection of lipid peroxidation in cells, providing insights into oxidative stress and related diseases. In material science, it serves as a stabilizer in polymers to enhance their resistance to degradation. Additionally, it finds application in the development of organic light-emitting diodes (OLEDs) due to its photoluminescent properties.