Used as an intermediate in the synthesis of fluorescent dyes and optical brighteners due to its strong fluorescence properties. Employed in research for developing sensors and probes that respond to environmental changes like pH or metal ions. Acts as a precursor in the preparation of pharmaceutical compounds, particularly in the design of anticoagulant and anti-inflammatory agents. Also utilized in photochemical studies for its light-sensitive behavior, making it relevant in photostable materials and UV detection systems.