This chemical is primarily utilized in the field of organic synthesis, where it serves as a crucial intermediate for the development of various biologically active compounds. Its structure makes it particularly valuable in the synthesis of indole derivatives, which are often explored for their potential pharmacological properties. Researchers employ it in the creation of compounds that may exhibit anti-inflammatory, antimicrobial, or anticancer activities. Additionally, it is used in the study of enzyme inhibition and receptor binding, contributing to the development of new therapeutic agents. Its versatility in synthetic chemistry also extends to material science, where it aids in the design of novel organic materials with specific electronic or photonic properties.