Used in the synthesis of pharmaceutical intermediates, particularly in the development of serotonin receptor modulators and other bioactive compounds targeting neurological disorders. Serves as a building block in organic synthesis for creating indole-based derivatives with potential antitumor, anti-inflammatory, and antimicrobial activities. Employed in research settings to develop fluorescent probes due to its ability to form conjugated systems useful in imaging applications. Also utilized in agrochemical research for designing new pesticides and plant growth regulators.