Used as a key intermediate in the synthesis of pharmaceuticals and biologically active compounds, particularly in the development of serotonin receptor modulators and central nervous system agents. Its structure allows for selective substitution at the bromine site, enabling the construction of complex heterocyclic systems. Commonly employed in cross-coupling reactions such as Suzuki or Heck reactions to form C–C bonds in drug discovery pipelines. Also utilized in the preparation of fluorescent probes and optoelectronic materials due to the benzofuran core’s photophysical properties.