This compound is primarily utilized in organic synthesis as a versatile building block for the development of more complex molecules. It is often employed in the preparation of indole derivatives, which are significant in pharmaceutical research due to their biological activity. The bromo and ester functional groups make it a valuable intermediate for further chemical modifications, such as cross-coupling reactions, to create potential drug candidates or agrochemicals. Additionally, it can be used in the study of indole-based compounds for their potential applications in medicinal chemistry, including the development of anti-inflammatory, anticancer, or antimicrobial agents.