This compound is primarily utilized in the field of pharmaceutical research and development, particularly in the synthesis of novel therapeutic agents. It serves as a key intermediate in the creation of compounds targeting central nervous system disorders, such as depression, anxiety, and schizophrenia. Its benzothiophene structure is often incorporated into molecules designed to interact with specific neurotransmitter receptors, enhancing their efficacy and selectivity. Additionally, it is explored in the development of potential anticancer drugs due to its ability to modulate cellular pathways involved in tumor growth and proliferation. Researchers also investigate its role in designing anti-inflammatory and analgesic agents, leveraging its structural properties to improve drug potency and reduce side effects.