Used as a key intermediate in the synthesis of anticoagulant drugs, particularly coumarin-based derivatives. It plays a role in the development of compounds with potential biological activity, including anti-inflammatory and antimicrobial agents. Also utilized in the preparation of fluorescent dyes due to its conjugated structure, making it valuable in analytical chemistry and bioimaging applications. Its reactivity allows for functionalization in organic synthesis, contributing to the creation of more complex heterocyclic systems.