Used as a key intermediate in the synthesis of biologically active compounds, particularly in pharmaceuticals and agrochemicals. Its structure serves as a building block for indole-based derivatives, which show potential in medicinal chemistry for developing kinase inhibitors and antimicrobial agents. Also employed in the preparation of fluorescent probes due to its ability to form conjugated systems useful in imaging and sensor applications. Commonly utilized in research settings for designing novel heterocyclic compounds with targeted physiological activities.