Used in organic synthesis as an intermediate for pharmaceuticals and bioactive compounds. Acts as a precursor in the preparation of indole-based derivatives, which are important in drug development for their antimicrobial, anti-inflammatory, and anticancer properties. Also employed in the synthesis of heterocyclic compounds for materials science and in the development of dyes and fluorescent probes due to its conjugated structure. Shows potential in medicinal chemistry for designing enzyme inhibitors and receptor ligands.