Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of anti-inflammatory and antitumor agents. It serves as a building block in the preparation of indole-based compounds that exhibit biological activity, including kinase inhibitors and serotonin receptor modulators. Its structure allows for easy functionalization, making it valuable in medicinal chemistry for drug discovery and optimization. Also employed in the creation of agrochemicals and bioactive molecules due to its ability to enhance molecular stability and binding affinity.