Used in organic synthesis as a key intermediate for the production of various pharmaceuticals, particularly in the development of indole-based compounds. It plays a role in the synthesis of bioactive molecules with potential applications in medicinal chemistry, such as anti-inflammatory and anticancer agents. Additionally, it is utilized in research to study the structural and functional properties of indole derivatives, aiding in the discovery of new therapeutic drugs. Its ester group and indole core make it versatile for further chemical modifications.