Used in organic synthesis as a building block for the preparation of various indole derivatives, which are important in pharmaceutical research. It serves as a key intermediate in the development of compounds with potential biological activities, such as anti-inflammatory, anti-cancer, and antimicrobial agents. Additionally, it is utilized in the study of enzyme inhibitors and receptor modulators, contributing to drug discovery and development processes. Its iodine substituent makes it valuable for cross-coupling reactions, enabling the creation of complex molecules in medicinal chemistry.