Used as a fluorescent probe in biochemical and analytical applications due to its strong fluorescence properties. Commonly employed in enzyme activity assays, particularly for detecting esterase and lipase activity, where it acts as a fluorogenic substrate when linked to acetate or other ester groups. Also utilized in the development of sensors for metal ions and reactive oxygen species. Its derivatives are explored in pharmaceutical research for potential antimicrobial, anti-inflammatory, anticancer, and antioxidant activities. Additionally, it serves as a building block in the synthesis of more complex coumarin-based compounds for optical brighteners and laser dyes, and in fluorescent drug delivery systems.