Used primarily in organic synthesis, this compound serves as a key intermediate in the production of various pharmaceuticals and agrochemicals. It plays a significant role in the development of compounds with potential therapeutic effects, particularly in the fields of oncology and neurology. Additionally, it is utilized in the synthesis of indole derivatives, which are important in the creation of plant growth regulators and other biologically active molecules. Its applications also extend to research and development, where it aids in the study of indole chemistry and the exploration of new chemical entities.