This compound is primarily utilized in organic synthesis as a key intermediate for the development of more complex molecules. It is often employed in the construction of heterocyclic compounds, particularly those containing benzo[b]thiophene cores, which are significant in medicinal chemistry. The bromine atom on the aromatic ring makes it a versatile substrate for further functionalization through cross-coupling reactions, such as Suzuki or Buchwald-Hartwig reactions, enabling the introduction of various substituents. Additionally, the ester group provides a handle for further chemical transformations, such as hydrolysis or reduction, to yield carboxylic acids or alcohols, respectively. Its applications are particularly relevant in the synthesis of pharmaceuticals, agrochemicals, and materials science, where benzo[b]thiophene derivatives are known for their biological activity and electronic properties.