Used primarily as a key intermediate in the synthesis of pharmaceuticals and bioactive compounds, particularly those targeting central nervous system disorders. Its indole core structure makes it valuable in developing serotonin receptor modulators. It also serves in the preparation of fluorescent dyes and optical brighteners due to its favorable photophysical properties. In research, it acts as a building block for novel indole-based molecules in medicinal chemistry, aiding the development of potential anticancer and anti-inflammatory agents.