This compound is primarily utilized in organic synthesis as a versatile intermediate for the preparation of various biologically active molecules, particularly in the development of pharmaceuticals. Its structure, featuring both a hydroxyl group and a carboxylate ester, makes it suitable for further functionalization, enabling the creation of complex indole derivatives. These derivatives are often explored for their potential therapeutic applications, including as anti-inflammatory, anticancer, or antimicrobial agents. Additionally, the tert-butyl group provides steric protection, which can be advantageous in selective synthetic transformations. Its role in medicinal chemistry research underscores its importance in the design and synthesis of novel drug candidates.