This chemical is primarily utilized in the field of organic synthesis, where it serves as a key intermediate in the production of various pharmaceutical compounds. Its structure is particularly valuable in the development of indole-based drugs, which are known for their diverse biological activities. Researchers often employ it in the synthesis of potential therapeutic agents targeting neurological disorders, due to its ability to interact with specific receptors in the brain. Additionally, it finds application in the creation of agrochemicals, contributing to the development of new pesticides or herbicides. Its versatility in chemical reactions also makes it a useful building block in the study of novel organic materials and dyes.