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Great question! Certainly not in the typical sense of the word. But like any sharp edged tool, one can always find a use for it. If I’m not mistaken one of the original (practical) uses for the style was agricultural before weaponization.
A modern karambit is more ideal as a self defense blade. Historically they were used as a last resort, and quite feared. Proper technique when utilizing a karambit tends to be more beneficial than a typical knife design allowing more power/damage with less energy dispensed on behalf of the user. These factors plus easy concealment make it an ideal choice under proper circumstances.