Used as a fluorescent probe in biochemical and analytical applications due to its strong fluorescence properties. It serves as a key intermediate in the synthesis of fluorescent labels and dyes for detecting enzymes, particularly esterases, in biological systems. The acetoxy group acts as an enzyme-sensitive trigger—upon enzymatic hydrolysis, it releases the fluorescent hydroxyl compound, enabling real-time monitoring of enzyme activity in cells and tissues. Also employed in the development of sensors for metal ions and reactive oxygen species, leveraging changes in fluorescence intensity upon interaction with analytes. Its bromomethyl functionality allows for easy conjugation to other molecules, making it useful in preparing labeled biomolecules and polymeric materials for imaging and diagnostic purposes.