Used in organic synthesis as an intermediate for pharmaceuticals and agrochemicals. Serves as a building block in the preparation of biologically active compounds, particularly in the development of benzofuran-based drugs. Commonly employed in cross-coupling reactions, such as Suzuki and Heck reactions, to construct complex aromatic systems. Also utilized in the synthesis of fluorescent dyes and optoelectronic materials due to the inherent aromatic and electron-rich nature of the benzofuran scaffold.