Used primarily as an intermediate in organic synthesis, especially in the development of pharmaceuticals and agrochemicals. Its structure allows for functionalization at multiple sites, making it valuable in constructing complex heterocyclic systems. It is particularly useful in the preparation of indole-based bioactive molecules, which show activity in antimicrobial, antiviral, and anticancer research. Additionally, it serves as a building block in the synthesis of dyes and functional materials due to its conjugated diketone system.