Used as an intermediate in the synthesis of pharmaceuticals, particularly in the development of bioactive molecules with potential cardiovascular and central nervous system activity. It serves as a building block in organic synthesis due to the reactivity of the ester group and the fused benzofuran ring, enabling further functionalization. Commonly employed in research settings for constructing complex heterocyclic compounds. Also utilized in the preparation of agrochemicals and specialty polymers where aromatic and oxygen-containing heterocycles enhance material properties.