Used primarily in organic synthesis, this compound serves as a key intermediate in the production of various pharmaceutical agents. Its structure, featuring an indole core, makes it valuable for developing compounds with potential biological activity, particularly in the field of medicinal chemistry. Researchers utilize it to create analogs for testing against diseases, including cancer and neurological disorders. Additionally, it is employed in the synthesis of agrochemicals, where its derivatives may act as growth regulators or pest control agents. Its versatility in chemical reactions allows for modifications that enhance the efficacy and specificity of the final products.