Used in the synthesis of anticoagulant compounds and rodenticides, particularly as an intermediate in the production of coumarin-derived drugs. It also serves as a building block in organic synthesis for pharmaceuticals and agrochemicals. Its derivatives exhibit biological activities such as antimicrobial, anti-inflammatory, and anticancer properties, making it valuable in medicinal chemistry research. Additionally, it is employed in the development of fluorescent dyes and optical brighteners due to its aromatic structure and light-emitting characteristics when substituted.