Used primarily in organic synthesis, this compound serves as a key intermediate in the production of various pharmaceuticals and agrochemicals. Its structure is particularly valuable in the development of indole-based compounds, which are known for their biological activity. It is often employed in the synthesis of potential drug candidates targeting neurological disorders, cancer, and infectious diseases. Additionally, it finds application in the creation of herbicides and pesticides due to its ability to disrupt specific biological pathways in pests. Researchers also utilize it in the study of indole derivatives to explore new therapeutic agents and chemical reactions.