Used as an intermediate in the synthesis of pharmaceuticals, particularly in the production of nicergoline and other ergot alkaloid derivatives used for treating cognitive and circulatory disorders. Also serves as a building block in the development of agrochemicals and functional materials due to its aromatic and heterocyclic structure. Its keto group enables further chemical modifications, making it valuable in organic synthesis and medicinal chemistry research. Furthermore, it is employed in the production of fluorescent compounds and optoelectronic materials due to its ability to absorb and emit light at specific wavelengths, making it suitable for chemical sensors and display devices.