Used as an intermediate in the synthesis of pharmaceuticals, particularly in the development of indole alkaloid-based drugs. It serves as a building block for compounds with potential antitumor, antiviral, and neuroactive properties. Commonly employed in research for creating derivatives that modulate serotonin receptors, making it relevant in studies on central nervous system disorders. Also utilized in the preparation of organic semiconductors and fluorescent dyes due to its conjugated structure and stability.