This compound is primarily utilized in the field of medicinal chemistry and pharmaceutical research. It serves as a key intermediate in the synthesis of various biologically active molecules, particularly those targeting enzyme inhibition and receptor modulation. Its structure is often incorporated into the development of potential therapeutic agents, including anti-inflammatory, anticancer, and antimicrobial drugs. Researchers also explore its utility in designing novel compounds for studying biochemical pathways and drug discovery processes. Its unique indazole core makes it a valuable scaffold for creating diverse chemical libraries in high-throughput screening programs.