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 development of pharmaceuticals, especially in the synthesis of indole-based compounds, which are known for their diverse biological activities. It is often employed in research settings to explore potential therapeutic agents, including anti-inflammatory, anticancer, and antimicrobial drugs. Additionally, its unique chemical properties make it a useful building block in the creation of novel materials with potential applications in optoelectronics and organic electronics. Researchers also leverage its reactivity in the study of chemical pathways and mechanisms, contributing to advancements in synthetic chemistry.