This chemical is primarily utilized in the synthesis of pharmaceutical compounds, particularly those targeting neurological disorders. It serves as a key intermediate in the production of carbazole-based drugs, which are known for their potential in treating conditions like Parkinson's disease and other neurodegenerative illnesses. Additionally, it is employed in the development of serotonin receptor modulators, contributing to advancements in mental health therapies. Its structural properties also make it valuable in organic chemistry research for creating complex heterocyclic compounds.