This chemical 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, featuring both ester and indole groups, makes it valuable for constructing compounds with potential biological activity. Researchers often employ it in the development of pharmaceuticals, particularly in the synthesis of indole-based drugs, which are known for their diverse therapeutic applications, including anti-inflammatory, antiviral, and anticancer properties. Additionally, its reactivity allows for further functionalization, enabling the creation of novel chemical entities for drug discovery and development. In material science, it may also be explored for designing organic materials with specific electronic or photophysical properties.