Used as a key intermediate in the synthesis of indole-based pharmaceuticals, particularly in the development of serotonin receptor modulators and anti-inflammatory agents. Its structure allows for selective functionalization at multiple sites, making it valuable in medicinal chemistry for building complex heterocyclic systems. Commonly employed in research settings to prepare analogs for biological screening, especially in central nervous system drug discovery. Also utilized in the preparation of fluorescent probes due to the inherent photophysical properties of the indole scaffold.