Used primarily in organic synthesis, it serves as a key intermediate in the production of pharmaceuticals, particularly in the development of compounds with potential therapeutic effects. Its structure is valuable in creating indole derivatives, which are often explored for their biological activities, including antimicrobial, anti-inflammatory, and anticancer properties. Additionally, it plays a role in the synthesis of agrochemicals, contributing to the development of pesticides and herbicides. Its versatility in chemical reactions makes it a useful building block in research and industrial applications.