Used as a key intermediate in the synthesis of pharmaceuticals and agrochemicals, particularly in the development of bioactive molecules with antifungal, antibacterial, and anti-inflammatory properties. Its functional groups enable coupling reactions and ring transformations, making it valuable in medicinal chemistry for constructing benzofuran-based compounds. Also employed in the preparation of fluorescent dyes and organic semiconductors due to its aromatic structure and halogen substituents that facilitate further chemical modifications.