Used in organic synthesis as a key intermediate for pharmaceuticals and bioactive compounds. Its structure supports the development of indole-based derivatives, which are common in medicinal chemistry, particularly in the creation of kinase inhibitors and anti-inflammatory agents. Also employed in the research of fluorescent dyes and optoelectronic materials due to the inherent electron-rich nature of the indole core. The ester groups allow for easy functionalization, making it valuable in combinatorial chemistry and drug discovery.