This compound is primarily utilized in the field of medicinal chemistry as a building block for the synthesis of various pharmacologically active molecules. Its structure, which includes both an aminomethyl group and a benzo[b]thiophene moiety, makes it a valuable intermediate in the development of drugs targeting neurological disorders, such as Alzheimer's disease and other cognitive impairments. Additionally, it is employed in the creation of compounds with potential anticancer properties, where its framework can be modified to enhance binding affinity to specific cellular targets. The chemical's versatility also extends to its use in the design of inhibitors for enzymes involved in inflammatory pathways, contributing to the development of anti-inflammatory therapeutics.