Used primarily in organic synthesis, this compound serves as a key intermediate in the production of various pharmaceuticals. It is particularly valuable in the development of anti-inflammatory and analgesic drugs due to its structural similarity to indole derivatives, which are known for their biological activity. Additionally, it finds application in the synthesis of agrochemicals, where it contributes to the creation of compounds with pesticidal properties. Its role in research is also notable, as it aids in the study of indole-based molecules and their interactions in biological systems.