Used in organic synthesis as an intermediate for pharmaceuticals and agrochemicals. Serves as a building block in the development of bioactive molecules due to its benzofuran core, which is common in compounds with antimicrobial, anti-inflammatory, and anticancer properties. Employed in cross-coupling reactions, such as Suzuki and Heck reactions, to form carbon-carbon bonds for constructing complex aromatic systems. Also utilized in materials science for designing organic semiconductors and fluorescent dyes owing to its rigid aromatic structure and electron-transport characteristics.