This compound is primarily utilized in the synthesis of pharmaceutical intermediates, particularly in the development of indole-based drugs. Its structure is valuable in creating compounds with potential therapeutic applications, such as anti-inflammatory, anticancer, and antimicrobial agents. Additionally, it serves as a key building block in organic chemistry research for constructing complex molecules with indole scaffolds, which are prevalent in many biologically active substances. Its versatility makes it a useful reagent in medicinal chemistry and drug discovery processes.