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 in the synthesis of indole derivatives. These derivatives are often explored for their potential therapeutic properties, including anti-inflammatory, anticancer, and antimicrobial activities. Additionally, it is employed in the preparation of complex heterocyclic compounds, which are valuable in drug discovery and medicinal chemistry. Its bromo and ester functional groups make it a versatile building block for further chemical modifications.