Used as an intermediate in the synthesis of pharmaceuticals, particularly in the development of selective serotonin reuptake inhibitors (SSRIs) and other central nervous system agents. Its structure supports the creation of bioactive molecules due to the presence of reactive halogen groups that allow for further functionalization through cross-coupling reactions. Also employed in the preparation of agrochemicals and fluorescent probes for biochemical assays, where the benzofuran core contributes to enhanced photostability and emission properties.