This compound is primarily utilized in the field of medicinal chemistry as a key intermediate in the synthesis of biologically active molecules. It is often employed in the development of pharmaceuticals targeting neurological disorders, particularly those involving serotonin receptors. Its structure, featuring a benzo[b]thiophene moiety, makes it valuable for designing compounds with potential therapeutic effects in treating conditions like depression, anxiety, and schizophrenia. Additionally, the presence of the tert-butoxycarbonyl (Boc) protecting group allows for controlled synthetic processes, enabling precise modifications during drug development. Its application extends to research focused on creating novel drug candidates with improved efficacy and selectivity.