Used as a key intermediate in Suzuki-Miyaura cross-coupling reactions, enabling the formation of carbon-carbon bonds in pharmaceutical and agrochemical synthesis. Its boronate ester group facilitates efficient coupling with aryl or heteroaryl halides under palladium catalysis, making it valuable in the development of complex organic molecules, particularly in drug discovery and materials science. The benzofuran moiety contributes to the structural diversity of target compounds, often enhancing biological activity or electronic properties in final products.