This compound is primarily utilized in the field of organic synthesis, where it serves as a key intermediate in the production of more complex molecules. Its structure is particularly valuable in the synthesis of alkaloids and other biologically active compounds. Researchers often employ it in the development of pharmaceuticals, especially those targeting neurological disorders, due to its indole core, which is a common feature in many drugs affecting the central nervous system. Additionally, it finds application in the study of plant growth regulators and as a building block in the creation of dyes and pigments. Its versatility in chemical reactions makes it a valuable tool in both academic research and industrial applications.