Used in organic synthesis as an intermediate for pharmaceuticals and bioactive compounds. Its structure supports the development of indole-based derivatives, which are common in medicinal chemistry. Commonly employed in the preparation of fluorescent dyes and sensors due to the aldehyde and ester functional groups enabling conjugation and derivatization. Also utilized in research for developing potential kinase inhibitors and anti-inflammatory agents. Serves as a building block in the synthesis of tryptamine-related analogs for neurological studies.