Used primarily in the synthesis of organic compounds, it serves as a key intermediate in the production of pharmaceuticals and bioactive molecules. Its coumarin backbone is valuable in developing drugs with anticoagulant, anti-inflammatory, and anticancer properties. Additionally, it is utilized in the creation of fluorescent dyes and probes for biochemical research due to its inherent fluorescence properties. In cosmetic formulations, it acts as a stabilizer and enhances product performance. Its antioxidant characteristics also make it suitable for applications in food preservation and health supplements.