This compound is primarily utilized in the field of organic synthesis, where it serves as a key intermediate in the production of various heterocyclic compounds. Its structure is particularly valuable in the development of chromene derivatives, which are known for their diverse biological activities. Researchers often employ it in the synthesis of potential pharmaceutical agents, especially those targeting anti-inflammatory, antimicrobial, and anticancer properties. Additionally, its reactivity makes it suitable for constructing complex molecular frameworks in medicinal chemistry, contributing to the discovery of novel therapeutic compounds.