Used as a key intermediate in the synthesis of anticoagulant pharmaceuticals, particularly in the development of novel warfarin analogs. Its α,β-unsaturated carbonyl structure enables Michael addition reactions, making it valuable in medicinal chemistry for constructing biologically active molecules. Also employed in research for designing fluorescent probes due to its conjugated system and ability to chelate metal ions. Shows potential in agrochemical formulations as a scaffold for fungicidal and herbicidal agents.