Used as a key intermediate in the synthesis of various pharmaceutical compounds, particularly those targeting central nervous system disorders. It plays a role in the development of bioactive molecules due to its benzofuran core, which is a common structural motif in drug design. Additionally, it is utilized in organic synthesis to create complex heterocyclic compounds, which are valuable in medicinal chemistry and material science research. Its bromine substitution allows for further functionalization, making it versatile in cross-coupling reactions and other chemical transformations.