Used primarily in pharmaceutical research, this compound serves as a key intermediate in the synthesis of various biologically active molecules. Its indole core structure is valuable in developing compounds with potential therapeutic applications, particularly in the field of oncology and neurology. Researchers utilize it to create novel drug candidates targeting specific receptors or enzymes involved in disease pathways. Additionally, it is employed in the synthesis of heterocyclic compounds, which are essential in medicinal chemistry for designing drugs with improved efficacy and reduced side effects. Its role in organic synthesis also extends to the development of fluorescent probes and other specialized chemicals for biochemical studies.