This compound is primarily utilized in organic synthesis and pharmaceutical research. It serves as a key intermediate in the development of indole-based compounds, which are known for their diverse biological activities. Researchers often employ it in the synthesis of potential drug candidates, particularly those targeting neurological and anti-inflammatory pathways. Its structural features make it valuable for studying structure-activity relationships in medicinal chemistry. Additionally, it is used in the preparation of complex heterocyclic compounds, contributing to advancements in materials science and agrochemical research.