Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of anticoagulant and anti-inflammatory agents. Its structure allows for selective functionalization, making it valuable in constructing complex heterocyclic systems found in bioactive molecules. Commonly employed in cross-coupling reactions such as Suzuki and Heck reactions to form carbon-carbon bonds in drug discovery programs. Also utilized in the preparation of organic semiconductors due to the electron-rich nature of the benzothiophene core, contributing to materials with enhanced charge transport properties.