Used as a key intermediate in the synthesis of indole-based pharmaceuticals, particularly in the development of kinase inhibitors and anti-cancer agents. Its structure allows for easy functionalization at the indole nitrogen and the ester moiety, enabling the construction of complex heterocyclic systems. Commonly employed in medicinal chemistry for generating libraries of compounds targeting serotonin receptors and protein kinases. Also utilized in the preparation of tryptophan analogs and fluorescent probes for biochemical assays.