Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of bioactive molecules targeting central nervous system disorders. Its structure allows for further functionalization, making it valuable in creating benzofuran-based compounds with potential anticonvulsant, anti-inflammatory, or anticancer properties. Commonly employed in medicinal chemistry research for building complex heterocyclic systems. Also utilized in the preparation of analogs for structure-activity relationship (SAR) studies.