Used as an intermediate in the synthesis of pharmaceuticals, particularly in the development of kinase inhibitors and other bioactive molecules. It serves as a building block in medicinal chemistry due to its structural similarity to indole derivatives, which are common in drugs targeting cancer, inflammation, and neurological disorders. Also employed in the preparation of dyes and functional materials where aromatic heterocycles with electron-modulating properties are required. Its carboxylic acid group allows for easy derivatization, enabling conjugation into larger molecular frameworks for structure-activity relationship studies.