This compound is primarily used in the field of organic synthesis and pharmaceutical research due to its coumarin backbone, which is a versatile structure in medicinal chemistry. It serves as a key intermediate in the synthesis of various bioactive molecules, including anticoagulants, anti-inflammatory agents, and anticancer drugs. Additionally, its dimethoxy and methyl substituents enhance its photophysical properties, making it useful in the development of fluorescent probes and dyes for biochemical studies. In the fragrance industry, it is valued for its ability to impart a pleasant, sweet aroma, often incorporated into perfumes and cosmetic products. Its antioxidant properties also make it a candidate for use in skincare formulations to protect against oxidative stress.