Used as an intermediate in the synthesis of pharmaceuticals, particularly in the development of antihypertensive and antipsychotic drugs. Its structure allows for selective functionalization, making it valuable in creating active pharmaceutical ingredients. Also employed in the production of organic semiconductors due to the thiophene ring's electron-conducting properties, useful in flexible electronics and OLEDs. Commonly used in cross-coupling reactions like Suzuki or Stille reactions to build complex aromatic systems in research and industrial settings.