Used in organic synthesis to create complex molecules, particularly in the development of pharmaceuticals and bioactive compounds. It serves as a key intermediate in the production of indole derivatives, which are important in drug discovery for their potential therapeutic properties, including anti-inflammatory, antiviral, and anticancer activities. Additionally, it is utilized in research to study the structure-activity relationships of indole-based compounds, aiding in the design of more effective drugs. Its ester group makes it a versatile building block for further chemical modifications.