Used as a key intermediate in the synthesis of anticoagulant and anti-inflammatory agents due to its structural similarity to coumarin derivatives. Exhibits potential in medicinal chemistry for developing new bioactive molecules with antioxidant and antimicrobial properties. Also employed in fluorescent probes and dyes because of its strong photoluminescent characteristics, making it suitable for imaging and sensor applications. Shows activity in agrochemical formulations as a building block for novel pesticides with improved efficacy and environmental safety.