Used as an intermediate in the synthesis of dyes and fluorescent compounds, particularly in the development of naphthoxanthene and naphthofuran derivatives. It serves in the preparation of Schiff bases that exhibit biological activity, including antimicrobial and antifungal properties. Also applied in coordination chemistry as a ligand for metal ions, forming complexes with potential catalytic or photophysical applications. Its aldehyde and hydroxyl functional groups allow for versatile reactivity in organic transformations, making it valuable in pharmaceutical and agrochemical research.