Used as a key intermediate in the synthesis of pharmaceuticals and bioactive compounds, particularly in the development of indole-based drugs with antitumor, antimicrobial, and anti-inflammatory properties. Serves as a building block in organic electronics due to its extended π-conjugated system, useful in designing organic semiconductors and fluorescent dyes. Also employed in coordination chemistry as a ligand for metal complexes in catalysis. Its structural similarity to natural indole alkaloids makes it valuable in medicinal chemistry for drug discovery and optimization.