Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of central nervous system (CNS) agents and antidepressants. Its structure supports the creation of bioactive molecules due to the presence of both amine functionality and a rigid benzofuran scaffold, which enhances binding selectivity to neurological receptors. Commonly employed in medicinal chemistry for constructing drug candidates targeting serotonin and dopamine pathways. Also utilized in agrochemicals for designing herbicides and insecticides owing to its stability and reactivity profile.