Used in the synthesis of various pharmaceutical compounds, particularly those targeting neurological and psychiatric disorders. It serves as a key intermediate in the production of indole-based drugs, which are known for their potential in treating conditions like depression and anxiety. Additionally, it is utilized in organic chemistry research to develop novel heterocyclic compounds with potential biological activity. Its role in the creation of agrochemicals is also notable, contributing to the development of pesticides and herbicides. In material science, it is explored for the synthesis of organic electronic materials, which are essential in the production of sensors and light-emitting devices.