Used in pharmaceutical research as a building block for synthesizing compounds with potential therapeutic properties, particularly in the development of drugs targeting neurological disorders and cancer. Its structural features make it valuable in the creation of indole-based molecules, which are often explored for their biological activity. Additionally, it serves as a key intermediate in organic synthesis for producing fluorescent dyes and probes, aiding in biochemical and cellular imaging studies. Its applications also extend to material science, where it contributes to the development of advanced organic materials with specific electronic or optical properties.