Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of antipsychotic and anti-inflammatory agents. Its structure allows for functionalization at multiple sites, making it valuable in medicinal chemistry for building complex heterocyclic systems. Commonly employed in cross-coupling reactions and condensation processes to form biologically active molecules. Also utilized in the preparation of organic semiconductors due to the electron-rich nature of the benzothiophene core, contributing to improved charge transport properties in thin-film transistors.