This compound is primarily utilized in the field of organic synthesis, where it serves as a key intermediate in the production of various pharmaceuticals. Its indole core structure is particularly valuable in the development of drugs targeting neurological disorders, such as serotonin receptor modulators, which are critical in treating conditions like depression and anxiety. Additionally, it finds application in the synthesis of agrochemicals, contributing to the creation of pesticides and herbicides that protect crops from pests and diseases. Its versatility in chemical reactions also makes it a useful building block in the research and development of novel compounds with potential therapeutic or industrial uses.