Used as a key intermediate in the synthesis of pharmaceutical compounds, particularly in the development of indole-based drugs with potential antitumor, antimicrobial, and anti-inflammatory activities. Its oxime and carbonyl functional groups allow for versatile chemical modifications, making it valuable in medicinal chemistry for designing bioactive molecules. Also employed in the preparation of heterocyclic compounds for research in neuropharmacology due to structural similarity to neurotransmitter analogs.