Used in the synthesis of anticoagulant drugs and coumarin-based derivatives, this compound serves as an important intermediate in pharmaceutical chemistry. Its structure supports the development of compounds with biological activity, including anti-inflammatory and antimicrobial agents. It is also employed in the preparation of fluorescent dyes and sensors due to the inherent photochemical properties of the coumarin backbone. In research, it acts as a building block for modifying coumarin scaffolds to explore new therapeutic agents and optical materials.