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 compounds with potential therapeutic effects, such as anti-inflammatory and anticancer agents. Additionally, it is employed in the synthesis of agrochemicals, contributing to the creation of pesticides and herbicides that are more effective and environmentally friendly. In research, it is used to study the properties and reactions of indole derivatives, which are significant in the development of new materials and chemicals. Its versatility and reactivity make it a crucial component in advancing both medical and agricultural sciences.