Used in organic synthesis as a key intermediate for the production of various biologically active compounds, including pharmaceuticals and agrochemicals. It serves as a building block for the development of indole derivatives, which are known for their potential therapeutic properties, such as anti-inflammatory, antimicrobial, and anticancer activities. Additionally, it is employed in research for studying enzyme inhibition and receptor binding mechanisms due to its structural similarity to naturally occurring indole compounds. Its applications extend to material science, where it is utilized in the synthesis of organic electronic materials and dyes.