Used as a key intermediate in the synthesis of indole-based pharmaceuticals, particularly in the development of serotonin receptor modulators and other central nervous system agents. Its ester groups allow for selective functionalization, making it valuable in constructing complex heterocyclic compounds for drug discovery. Also employed in the preparation of fluorescent dyes and organic semiconductors due to the electron-rich indole core. Commonly utilized in research settings for building blocks in medicinal chemistry and materials science.