Used as a key intermediate in the synthesis of fluorescent dyes and optical brighteners due to its rigid oxazolone structure and hydroxyl group that enhances light absorption and emission properties. Its derivatives are employed in imaging technologies and biological labeling, where they act as fluorophores for detecting biomolecules in cells. Also explored in the development of organic light-emitting diodes (OLEDs) for display applications, thanks to efficient luminescence and thermal stability. Additionally, shows potential in medicinal chemistry as a scaffold for designing enzyme inhibitors, particularly in neurodegenerative disease research.