Used as a key intermediate in the synthesis of pharmaceutical compounds, particularly in the development of kinase inhibitors and anticancer agents. Its structure allows for selective functionalization, making it valuable in medicinal chemistry for designing bioactive molecules. Also employed in the preparation of indirubin derivatives, which show potential in treating neurodegenerative diseases and inflammation. Commonly utilized in research settings for structure-activity relationship (SAR) studies due to its reactive sites and stability in various coupling reactions.