Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of serotonin receptor modulators. Its structure supports the construction of bioactive molecules with potential applications in treating neurological and psychiatric disorders. The bromine functionality allows for further cross-coupling reactions, enabling the introduction of diverse substituents during drug optimization. Also employed in the preparation of fluorescent probes due to the benzofuran core, which exhibits favorable photophysical properties. Commonly utilized in research settings for generating compound libraries in medicinal chemistry.