This compound is primarily utilized in the field of organic synthesis, where it serves as a key intermediate in the production of more complex molecules. Its structure is particularly valuable in the development of pharmaceutical agents, as it can be modified to create compounds with potential therapeutic effects. Researchers often employ it in the synthesis of indole derivatives, which are known for their diverse biological activities, including anti-inflammatory, anticancer, and antimicrobial properties. Additionally, it is used in the study of enzyme inhibitors, where its indole core can interact with specific enzyme sites, making it a useful tool in biochemical research. Its methoxy groups also contribute to its reactivity, allowing for further functionalization in synthetic pathways.