This compound is primarily utilized in the field of organic synthesis, particularly as a key intermediate in the production of more complex indole derivatives. Its structure makes it valuable for constructing pharmacologically active molecules, especially those targeting neurological and psychiatric disorders. Researchers often employ it in the development of potential drug candidates due to its ability to interact with various biological receptors. Additionally, it serves as a building block in the synthesis of natural products and agrochemicals, contributing to advancements in medicinal chemistry and crop protection. Its versatility in chemical reactions, such as coupling and functionalization, further enhances its role in creating novel compounds with diverse applications.