Used in organic synthesis, particularly in the development of pharmaceuticals and bioactive compounds. It serves as a key intermediate in the creation of molecules with potential therapeutic properties, such as anti-inflammatory or anticancer agents. Additionally, it is employed in material science for the synthesis of organic electronic materials, including light-emitting diodes (LEDs) and semiconductors, due to its structural properties that facilitate charge transport. Its benzofuran core is also utilized in the design of fluorescent dyes and sensors for chemical detection.