Used primarily as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of serotonin receptor modulators and other central nervous system agents. Its indole core structure makes it valuable in creating analogs for drug discovery, especially in treatments targeting neurological disorders such as migraines, depression, and anxiety. Also employed in the preparation of bioactive molecules and agrochemicals due to its ability to participate in various coupling and functionalization reactions. Its ester group allows for easy modification, enabling the construction of complex molecular architectures in medicinal chemistry research.