This compound is primarily utilized in organic synthesis and pharmaceutical research. It serves as a key intermediate in the development of various biologically active molecules, particularly in the synthesis of indole derivatives. These derivatives are often explored for their potential therapeutic properties, including anti-inflammatory, antimicrobial, and anticancer activities. Additionally, it is used in the preparation of complex organic compounds for drug discovery and development, aiding in the creation of novel compounds with potential medicinal applications. Its role in the synthesis of heterocyclic compounds also makes it valuable in the field of agrochemicals for developing new pesticides or herbicides.