This chemical is primarily utilized in organic synthesis and pharmaceutical research. It serves as a key intermediate in the development of various biologically active compounds, particularly in the synthesis of indole-based derivatives. These derivatives are often explored for their potential therapeutic properties, including anti-inflammatory, antimicrobial, and anticancer activities. Additionally, it is used in the study of enzyme inhibition and receptor binding, contributing to the discovery of new drug candidates. Its structural features make it a valuable building block in medicinal chemistry for designing molecules with specific biological targets.