Used as an intermediate in the synthesis of pharmaceuticals, particularly in the development of active pharmaceutical ingredients (APIs) with biological activity. It participates in acylation reactions to introduce the benzo[b]thiophene moiety into target molecules, which is a structural component found in some drugs with anti-inflammatory, antiviral, or anticancer properties. Also employed in the preparation of agrochemicals and specialty organic compounds where functionalization of the thiophene ring is required. Its reactivity makes it valuable in forming amide and ester derivatives in research and industrial settings.