This compound is primarily utilized in the field of organic synthesis, where it serves as a key intermediate in the production of various pharmaceuticals. Its structure is particularly valuable in the development of indole-based drugs, which are known for their broad therapeutic applications, including anti-inflammatory, antiviral, and anticancer properties. Additionally, it is employed in the synthesis of complex organic molecules for research purposes, aiding in the study of chemical reactions and the development of new compounds with potential industrial or medicinal uses. Its versatility makes it a crucial component in the toolkit of synthetic chemists.