Used in the synthesis of bioactive compounds, particularly in the development of anticoagulant and anti-inflammatory agents. Its structure supports activity as a coumarin derivative, making it valuable in medicinal chemistry for designing drugs that target blood clotting and inflammatory pathways. Also employed as an intermediate in organic synthesis for building complex heterocyclic systems. Shows potential in fluorescent probe development due to inherent photophysical properties, useful in biochemical imaging and sensor technologies.