Used as an intermediate in organic synthesis, particularly in the development of pharmaceuticals and agrochemicals. Its indole core structure makes it valuable in constructing bioactive molecules, including serotonin receptor modulators and other central nervous system agents. The ester groups allow for selective modifications, enabling fine-tuning of molecular properties during drug design. It is also employed in the preparation of fluorescent probes and dyes due to the inherent photophysical properties of the indole scaffold.