Used in organic synthesis, particularly in the development of pharmaceuticals and bioactive compounds. Its structure serves as a building block for indole-based molecules, which are common in medicinal chemistry. It has been explored in the design of kinase inhibitors and serotonin receptor modulators due to the indole core’s affinity for biological targets. Also applied in the synthesis of dyes and fluorescent probes for biochemical imaging. Its hydroxyl and methyl functional groups allow for easy modification, making it valuable in creating compound libraries for drug discovery.