Used as a reagent in organic synthesis, particularly in cross-coupling reactions to introduce benzofuran moieties into target molecules. Its boron-based structure makes it suitable for Suzuki-Miyaura coupling, enabling the formation of carbon-carbon bonds in pharmaceuticals and agrochemicals. Exhibits good stability and reactivity under palladium catalysis, useful in constructing biaryl systems found in bioactive compounds. Also applied in the development of functional materials, including organic semiconductors and fluorescent dyes, due to the electron-rich nature of the benzofuran scaffold.