Used in the synthesis of anticoagulant drugs and fluorescent probes due to its coumarin backbone. Its hydroxyl and methyl groups enhance binding affinity and photostability. Commonly employed in biochemical assays for detecting metal ions and reactive oxygen species. Also investigated for use in organic light-emitting diodes (OLEDs) and as a building block in agrochemicals and dyes. Shows potential in medicinal chemistry for developing anti-inflammatory and antimicrobial agents.