This compound is primarily used in pharmaceutical research and development, particularly in the synthesis of novel drug candidates. Its structure, featuring a benzofuran core with an amine group, makes it a valuable intermediate in the creation of compounds targeting various biological pathways. It is often employed in the development of central nervous system (CNS) drugs due to its potential interaction with neurotransmitter systems. Additionally, it serves as a building block in medicinal chemistry for designing molecules with potential anti-inflammatory, analgesic, or antimicrobial properties. Its use is largely confined to laboratory settings, where it aids in the exploration of new therapeutic agents.