Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of cardiovascular and central nervous system drugs. Its structure supports the creation of bioactive molecules due to the presence of both amine and ester functional groups, which are easily modified for drug optimization. Also employed in the preparation of fluorescent dyes and optical brighteners in material science applications. Its benzofuran core contributes to enhanced stability and light absorption properties, making it valuable in the design of organic semiconductors and sensors.