Used in organic synthesis, particularly in the development of pharmaceuticals and bioactive compounds. It serves as a key intermediate in the production of serotonin receptor modulators and other central nervous system agents. Its structural similarity to indole alkaloids makes it valuable in medicinal chemistry for designing compounds with potential antidepressant, antipsychotic, or anti-inflammatory activity. Also employed in the synthesis of fluorescent dyes and optical brighteners due to its aromatic and electron-rich framework. Widely utilized in research settings for building complex heterocyclic systems.