Used in organic synthesis, particularly in the development of pharmaceuticals and functional materials. Serves as an intermediate in the preparation of carbazole-based compounds, which are found in drugs with antitumor, antiviral, and anti-inflammatory properties. Also employed in the fabrication of organic semiconductors and optoelectronic devices due to the electron-rich nature of the carbazole ring. Its ester functionality allows for further chemical modifications, making it valuable in medicinal chemistry and materials science research.