Benzofuran-2-ylmethanol is widely used in the synthesis of various pharmaceutical compounds due to its versatile chemical structure. It serves as a key intermediate in the production of drugs targeting neurological disorders, such as Alzheimer's disease and Parkinson's disease, owing to its ability to interact with specific receptors in the brain. Additionally, it is utilized in the development of antifungal and antibacterial agents, contributing to the fight against microbial infections. In the field of organic chemistry, it is employed as a building block for creating complex molecules with potential applications in material science, such as the development of organic semiconductors and light-emitting diodes (LEDs). Its derivatives are also explored for their potential anti-inflammatory and antioxidant properties, making it a valuable compound in medicinal research.