This compound is primarily utilized in the field of pharmaceutical research and development, particularly as an intermediate in the synthesis of various biologically active molecules. Its structure makes it a valuable building block for creating compounds with potential therapeutic applications, such as inhibitors targeting specific enzymes or receptors. Researchers often explore its use in designing drugs for conditions like cancer, inflammation, or neurological disorders due to its indazole core, which is known for its pharmacological relevance. Additionally, it may be employed in organic synthesis to develop novel chemical entities for further biological testing and drug discovery efforts.