This compound is primarily utilized in organic synthesis as a versatile intermediate for the production of various pharmaceuticals and agrochemicals. Its indole core structure makes it valuable in the development of biologically active molecules, particularly in the synthesis of anti-inflammatory, anticancer, and antimicrobial agents. Additionally, it serves as a building block in the creation of complex heterocyclic compounds, which are essential in medicinal chemistry and drug discovery. Its ester functional groups allow for further chemical modifications, enabling researchers to tailor its properties for specific applications in material science and fine chemical production.