This compound is primarily utilized in organic synthesis and pharmaceutical research. It serves as a key intermediate in the development of various biologically active molecules, particularly those targeting enzyme inhibition and receptor modulation. Its chromenone core structure is valuable in designing compounds with potential anti-inflammatory, anticancer, and antimicrobial properties. Additionally, it is employed in the synthesis of fluorescent dyes and probes for biochemical studies, owing to its unique photophysical properties. Researchers also explore its use in material science for creating advanced organic materials with specific electronic or optical characteristics.