Used in the synthesis of indole-based pharmaceuticals, particularly in the development of serotonin receptor modulators and anti-inflammatory agents. Serves as a key intermediate in creating complex heterocyclic compounds for drug discovery. Its aldehyde and ether functional groups allow selective reactions, making it valuable in building molecular frameworks for potential anticancer and neuroactive compounds. Also employed in research settings to develop fluorescent probes due to the indole ring’s photophysical properties.