This compound is primarily utilized in the synthesis of various biologically active molecules, particularly in the pharmaceutical industry. It serves as a key intermediate in the development of indole-based compounds, which are known for their potential therapeutic properties. These include applications in the creation of anti-inflammatory, anticancer, and antimicrobial agents. Additionally, it is used in organic chemistry research to explore novel chemical reactions and pathways, contributing to the advancement of medicinal chemistry and drug discovery. Its structural framework allows for modifications that can lead to the development of new compounds with enhanced biological activities.