This compound is primarily utilized in the synthesis of pharmaceuticals and organic intermediates. It serves as a key building block in the development of indole-based compounds, which are widely explored for their biological activities. Its structure is particularly valuable in the creation of potential therapeutic agents, including anti-inflammatory, anticancer, and antimicrobial drugs. Additionally, it is used in research settings to study the chemical and pharmacological properties of indole derivatives, aiding in the discovery of new drug candidates. Its applications extend to material science, where it contributes to the development of organic electronic materials and dyes.