This compound is primarily utilized in the field of organic synthesis, where it serves as a key intermediate in the production of various pharmacologically active molecules. Its unique structure, featuring a trifluoromethyl group, makes it valuable in the development of compounds with enhanced biological activity and stability. It is often employed in the synthesis of potential therapeutic agents, particularly in the creation of anti-inflammatory and anticancer drugs. Additionally, its chromenone core is explored in the design of fluorescent probes and dyes, which are useful in biochemical research and diagnostics. The compound's properties also make it a candidate for use in material science, particularly in the development of advanced organic materials with specific optical or electronic characteristics.