This compound is primarily utilized in the synthesis of various organic molecules, particularly in the development of pharmaceuticals and bioactive compounds. It serves as a key intermediate in the production of indole derivatives, which are known for their therapeutic properties, including potential anti-inflammatory, antiviral, and anticancer activities. Additionally, it is used in research settings to study the biochemical pathways and mechanisms involving indole-based compounds. Its role in the synthesis of complex molecules makes it valuable in medicinal chemistry and drug discovery processes.