Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of indole-based bioactive compounds. It serves in the preparation of selective serotonin reuptake inhibitors (SSRIs) and other central nervous system agents. Its acetyl and carboxylic functional groups allow for versatile derivatization, making it valuable in medicinal chemistry for constructing heterocyclic frameworks. Also employed in the creation of kinase inhibitors and anti-inflammatory agents through coupling and condensation reactions. Commonly utilized in research settings for drug discovery and optimization.