Used in the synthesis of pharmaceutical intermediates, particularly in the development of serotonin receptor modulators. It serves as a building block for compounds with potential neuroactive properties. Commonly employed in research settings for the preparation of indole-based bioactive molecules. Also utilized in the creation of dyes and fluorescent probes due to its conjugated aromatic structure. Shows relevance in medicinal chemistry for designing analogs with anti-inflammatory and anticancer activities. Additionally, used as a reagent in studying carbon-carbon bond formation in organic reactions.