Used as a key intermediate in the synthesis of biologically active compounds, particularly in pharmaceuticals and agrochemicals. Its structure allows for further functionalization through cross-coupling reactions, making it valuable in the development of new drug candidates. Commonly employed in the preparation of benzofuran-based derivatives that exhibit antimicrobial, anti-inflammatory, and anticancer activities. Also utilized in materials science for constructing conjugated organic systems in optoelectronic devices due to its aromatic and electron-rich nature.