Used in the synthesis of pharmaceutical intermediates, particularly in the development of bioactive molecules and heterocyclic compounds. Its structure supports use in medicinal chemistry for designing serotonergic agents and central nervous system-targeted drugs. The compound serves as a building block in organic synthesis, enabling the construction of benzofuran-based scaffolds with potential anticonvulsant, anti-inflammatory, or anticancer activity. Also employed in research settings to develop novel analogs for structure-activity relationship studies.