This chemical is primarily utilized in organic synthesis as a versatile intermediate. It plays a significant role in the development of pharmaceuticals, particularly in the synthesis of indole-based compounds, which are crucial in drug discovery. Its formyl group makes it a valuable building block for creating complex molecules through reactions like condensation or nucleophilic addition. Additionally, it is used in the preparation of heterocyclic compounds, which are essential in medicinal chemistry for designing drugs with therapeutic properties. Its protective tert-butyl group ensures stability during synthetic processes, making it a reliable choice for multi-step reactions.