Used in the synthesis of pharmaceutical intermediates, particularly in developing compounds with biological activity such as anti-inflammatory and antimicrobial agents. It serves as a building block in organic synthesis due to the reactivity of the ester group and the aromatic ring system. Commonly employed in research settings for constructing more complex heterocyclic molecules. Also utilized in the preparation of fluorescent dyes and optical brighteners because of the benzofuran core’s favorable photophysical properties. Its derivatives are explored in material science for potential use in organic semiconductors and light-emitting diodes (OLEDs).