Used as a key intermediate in the synthesis of pharmaceuticals and fine chemicals, particularly in the production of anticoagulants and antiviral agents. Commonly employed in the preparation of coumarin derivatives, which exhibit biological activities such as antimicrobial, anti-inflammatory, and antioxidant properties. Also utilized in organic synthesis for constructing complex aromatic frameworks due to its reactive aldehyde and hydroxyl functional groups. Serves as a building block in the development of fluorescent dyes and sensors owing to its ability to form conjugated systems.