Used in pharmaceutical synthesis as a key intermediate for indole-based drugs, particularly in the development of anti-inflammatory and central nervous system agents. Its structure supports the creation of bioactive molecules due to the indole core's prevalence in natural products and medicinal compounds. Also employed in research for designing new serotonin receptor modulators. Common in agrochemicals for developing plant growth regulators and pesticides owing to its ability to mimic indoleacetic acid derivatives. Frequently utilized in organic synthesis to build complex heterocyclic systems through functional group transformations.