Used as a key intermediate in the synthesis of pharmaceuticals and bioactive compounds, particularly in the development of indole-based drugs. It serves as a building block in the preparation of serotonin receptor modulators and other neuroactive agents. Its aldehyde and bromo functional groups allow for selective chemical modifications, making it valuable in medicinal chemistry for creating diverse indole derivatives. Also employed in the synthesis of fluorescent dyes and organic semiconductors due to its conjugated structure. Commonly used in cross-coupling reactions such as Suzuki and Heck reactions to form C–C bonds in complex molecule assembly.