This compound is primarily utilized in the field of organic synthesis and pharmaceutical research. It serves as a key intermediate in the development of various biologically active molecules. Its structure is particularly valuable in the synthesis of compounds with potential therapeutic properties, such as anti-inflammatory, antimicrobial, and anticancer agents. Additionally, it is explored in the design of novel fluorescent dyes and sensors due to its chromenone core, which exhibits interesting photophysical properties. Researchers also study its derivatives for their potential use in material science, particularly in the development of organic electronic materials.