This compound is primarily utilized in the field of organic synthesis, where it serves as a key intermediate in the production of various pharmaceuticals and agrochemicals. Its structure makes it valuable for constructing complex molecules, particularly those with indole-based frameworks, which are common in many biologically active compounds. Additionally, it is employed in the development of dyes and pigments due to its ability to contribute to the formation of vibrant and stable colors. In research, it is often used as a building block for studying chemical reactions and mechanisms involving heterocyclic compounds.