Used as a key intermediate in the synthesis of pharmaceutical compounds, particularly in the development of serotonin receptor modulators and other central nervous system agents. Its structure supports functionalization at multiple sites, making it valuable in medicinal chemistry for creating analogs in drug discovery programs. Commonly employed in research settings to build complex indole-based molecules with potential biological activity, including anti-inflammatory and anticancer properties. Also utilized in the preparation of fluorescent probes and imaging agents due to the inherent photophysical properties of the indole scaffold.