Primarily used in organic synthesis, this compound serves as a key intermediate in the production of various pharmaceuticals, particularly those with anticoagulant properties. Its structural features make it valuable in the development of coumarin derivatives, which are widely utilized in medicinal chemistry for their therapeutic effects. Additionally, it finds application in the synthesis of fluorescent dyes and optical brighteners due to its chromen-2-one core, which imparts desirable photophysical properties. In research, it is employed to study enzyme inhibition and to develop novel bioactive molecules. Its versatility also extends to the field of material science, where it is used in the creation of advanced organic materials with specific electronic or optical characteristics.