Used primarily in organic synthesis, this compound serves as a building block for pharmaceuticals and functional materials. Its indole core and hydroxyl-terminated alkyl chain make it valuable in developing bioactive molecules, particularly in the design of serotonin receptor ligands and fluorescent probes. The structure allows for easy functionalization, enabling use in conjugation reactions and the preparation of labeled compounds for biochemical assays. It also finds application in the synthesis of dyes and photoactive compounds due to the electron-rich indole moiety.