Used in the synthesis of pharmaceutical intermediates, particularly in the development of serotonin receptor modulators and other neuroactive compounds. Its aldehyde functional group allows for easy derivatization, making it valuable in constructing complex indole-based structures found in bioactive molecules. Commonly employed in research settings for creating novel analogs in medicinal chemistry, especially in studies related to central nervous system disorders and anti-inflammatory agents. Also utilized in the preparation of fluorescent probes and dyes due to the inherent photophysical properties of the indole scaffold.