This chemical is primarily utilized in the field of organic synthesis, particularly as an intermediate in the production of more complex indole derivatives. Indole compounds are of significant interest in medicinal chemistry due to their presence in various biologically active molecules. Specifically, it can be employed in the synthesis of potential pharmaceutical agents, including those targeting neurological disorders or cancer. Additionally, it may serve as a building block in the development of novel compounds for drug discovery, where modifications to the indole core can enhance biological activity or selectivity. Its benzyloxy group also makes it a useful precursor for further functionalization, enabling the creation of diverse chemical structures for research and development purposes.