This compound is primarily utilized in organic synthesis as a key intermediate for the development of various biologically active molecules. It serves as a building block in the creation of indole-based compounds, which are significant in pharmaceutical research due to their potential therapeutic properties. Specifically, it is used in the synthesis of inhibitors targeting enzymes or receptors involved in diseases. Additionally, it finds application in material science for the development of organic semiconductors and light-emitting materials due to its aromatic and electron-rich structure. Its tert-butyl group enhances stability and solubility, making it suitable for use in diverse chemical reactions and formulations.