This chemical is widely used in the field of electrochemistry and photochemistry due to its unique redox properties and light absorption capabilities. It serves as a photosensitizer in solar energy conversion systems, particularly in dye-sensitized solar cells, where it enhances light harvesting efficiency. Additionally, it is employed in photocatalytic reactions, aiding in the breakdown of organic pollutants or the synthesis of complex molecules. Its luminescent properties make it valuable in light-emitting devices and as a probe in biological imaging studies. The compound is also utilized in electrochemical sensors for detecting specific analytes due to its stable redox behavior.