Used as a key intermediate in Suzuki-Miyaura cross-coupling reactions, enabling the formation of carbon-carbon bonds in the synthesis of complex organic molecules. Particularly valuable in pharmaceutical and agrochemical industries for constructing substituted benzofuran derivatives, which are common structural motifs in bioactive compounds. Its stability and reactivity make it suitable for late-stage functionalization in drug development. Also employed in materials science for designing organic semiconductors and fluorescent dyes due to the electron-rich nature of the benzofuran core.