This compound is primarily used in organic synthesis as a building block for more complex molecules. It serves as a key intermediate in the production of pharmaceuticals, particularly in the development of compounds with potential therapeutic properties. Its bromomethyl group makes it a versatile reagent for further functionalization, enabling the creation of various derivatives. Additionally, it finds application in material science, where it is used to synthesize organic electronic materials, such as semiconductors or light-emitting components, due to the benzo[b]thiophene core's favorable electronic properties. Its role in cross-coupling reactions also makes it valuable in the synthesis of advanced polymers and specialty chemicals.