Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the preparation of indole-based compounds with biological activity. It serves in the development of kinase inhibitors and anti-inflammatory agents due to its reactive diketone functionality. The compound is also employed in organic synthesis for constructing complex heterocyclic systems, especially in medicinal chemistry research targeting central nervous system disorders and cancer therapeutics. Its structure allows for selective derivatization, making it valuable in generating compound libraries for drug discovery.