Used primarily in organic synthesis as a key intermediate for pharmaceuticals and bioactive compounds. Its structure supports the development of indole-based derivatives, which are common in medicinal chemistry, particularly in the creation of serotonin receptor modulators and anti-inflammatory agents. Also employed in research settings to study reaction mechanisms involving diketones and heterocyclic ring systems. Shows potential in the design of kinase inhibitors due to its ability to interact with enzyme active sites. Limited use in industrial applications; mainly confined to laboratory-scale synthesis and drug discovery.