This compound is primarily utilized in the field of organic synthesis, where it serves as a key intermediate in the production of more complex indole derivatives. These derivatives are often explored for their potential biological activities, making it valuable in pharmaceutical research. It is particularly useful in the development of compounds that may exhibit antimicrobial, anti-inflammatory, or anticancer properties. Additionally, it finds application in the synthesis of agrochemicals, where it contributes to the creation of pesticides or herbicides. Its role in the development of fluorescent dyes and other specialty chemicals is also noteworthy, as it aids in the study of biological processes and material sciences.