Used as a key intermediate in the synthesis of fluorescent dyes and probes due to its coumarin backbone, which exhibits strong fluorescence. Commonly employed in the development of chemosensors for detecting metal ions and biological molecules. Also utilized in pharmaceutical research for constructing bioactive molecules, particularly in the design of enzyme inhibitors and antimicrobial agents. Its reactive chloromethyl group allows for easy conjugation with other functional groups, making it valuable in labeling and bioconjugation applications.