This compound is primarily utilized in organic synthesis as a versatile intermediate for the construction of complex molecules. It is particularly valuable in the development of pharmaceuticals, where the benzofuran core structure is often incorporated into bioactive compounds. The bromine atom on the benzofuran ring allows for further functionalization through cross-coupling reactions, such as Suzuki or Buchwald-Hartwig reactions, enabling the introduction of various substituents. Additionally, the ester group provides a handle for further chemical modifications, including hydrolysis or reduction, making it a key building block in medicinal chemistry and drug discovery. Its applications also extend to materials science, where it can be used in the synthesis of organic electronic materials or polymers.