Used as a key intermediate in the synthesis of pharmaceutical agents, particularly in the development of anti-inflammatory and anticancer compounds. Its structure allows for further functionalization, making it valuable in medicinal chemistry for building complex benzofuran-based molecules. Commonly employed in cross-coupling reactions such as Suzuki or Heck reactions to form carbon-carbon bonds, enabling the construction of diverse organic frameworks. Also utilized in research settings for designing novel bioactive molecules and in the preparation of fluorescent dyes due to the inherent optical properties of the benzofuran core.