This compound is primarily utilized in organic synthesis, particularly in the development of complex molecules for pharmaceutical research. It serves as a key intermediate in the creation of bioactive compounds, including potential drugs targeting neurological disorders. Its structural features make it valuable in the synthesis of indole derivatives, which are widely explored for their therapeutic properties. Additionally, it is employed in the study of photophysical properties, contributing to advancements in materials science, especially in the development of organic light-emitting diodes (OLEDs) and other optoelectronic devices. Its role in these applications highlights its significance in both medicinal chemistry and advanced material research.