This compound is primarily utilized in the field of medicinal chemistry and drug development. It serves as a key intermediate in the synthesis of biologically active molecules, particularly those targeting specific enzymes or receptors. Its structure, featuring an acetamido group and a coumarin derivative, makes it suitable for designing inhibitors or modulators of proteases or kinases, which are often implicated in diseases like cancer, inflammation, and neurodegenerative disorders. Additionally, its chiral center allows for the exploration of stereospecific interactions in drug-target binding, enhancing the selectivity and efficacy of potential therapeutic agents. Researchers also employ this compound in the development of fluorescent probes or imaging agents due to the presence of the coumarin moiety, which exhibits photophysical properties useful in biological studies.