Used as an intermediate in the synthesis of pharmaceutical compounds, particularly in the development of central nervous system agents and cardiovascular drugs. Its structure supports the creation of bioactive molecules due to the presence of both amine and ester functional groups, enabling diverse chemical modifications. Commonly employed in research settings for designing novel therapeutic agents, especially those targeting neurological disorders. Also utilized in the preparation of fluorescent probes and dyes owing to the benzofuran core’s favorable photophysical properties.