Used as a key intermediate in the synthesis of tyrosine kinase inhibitors, particularly in the development of anticancer agents. It plays a role in targeting signaling pathways involved in tumor growth and proliferation. Its structure supports binding to enzyme active sites, making it valuable in pharmaceutical research for designing drugs with improved selectivity and potency. Also utilized in the preparation of fluorescent probes due to its coumarin-like backbone, enabling applications in cellular imaging and biochemical assays.