This compound is primarily utilized in the field of medicinal chemistry and drug development. Its structure, featuring a coumarin derivative, makes it a valuable scaffold for designing bioactive molecules. It is often explored for its potential as an anti-inflammatory, antioxidant, or antimicrobial agent. Researchers investigate its ability to interact with biological targets, such as enzymes or receptors, due to its unique combination of functional groups. Additionally, its fluorescent properties, derived from the coumarin moiety, make it useful in biochemical assays and imaging studies for tracking cellular processes. It is also studied for its role in synthesizing more complex molecules with therapeutic applications.