This compound is primarily utilized in the field of medicinal chemistry and drug development due to its structural similarity to biologically active molecules. It serves as a key intermediate in the synthesis of potential therapeutic agents, particularly those targeting neurological and psychiatric disorders. Its indole and pyridine moieties make it a valuable scaffold for designing compounds that interact with serotonin receptors, which are implicated in conditions like depression, anxiety, and migraines. Additionally, it is explored for its potential in developing inhibitors for enzymes involved in disease pathways, such as kinases or monoamine oxidases. Researchers also investigate its role in creating fluorescent probes for biochemical studies, leveraging its aromatic structure for optical applications.