This compound is primarily utilized in the field of medicinal chemistry as a key intermediate in the synthesis of various biologically active molecules. It plays a significant role in the development of pharmaceutical agents, particularly those targeting neurological disorders and cancer. Its structural framework is often incorporated into compounds designed to inhibit specific enzymes or receptors, making it valuable in drug discovery and development. Additionally, it is explored for its potential in creating novel therapeutic agents due to its carbazole core, which is known for its diverse pharmacological properties.