Used as an intermediate in the synthesis of pharmaceuticals and biologically active compounds, particularly in the development of benzofuran-based drugs. Its structure supports the creation of complex organic molecules used in medicinal chemistry, especially in research targeting central nervous system disorders and anti-inflammatory agents. The bromine substituent allows for further functionalization via cross-coupling reactions, making it valuable in building molecular diversity for drug discovery. Also employed in the preparation of fluorescent probes and materials for organic electronics due to the inherent stability and electronic properties of the benzofuran scaffold.