This compound is primarily utilized in organic synthesis and pharmaceutical research. It serves as a key intermediate in the development of various biologically active molecules, particularly those targeting neurological and anti-inflammatory pathways. Its structure is often exploited in the synthesis of indole-based compounds, which are known for their diverse pharmacological properties. Additionally, it is used in the preparation of dyes and pigments due to its aromatic indole core, which contributes to color stability and intensity. Researchers also explore its potential in agrochemicals for developing novel pesticides or herbicides.