Used primarily in organic synthesis, this compound serves as a key intermediate in the production of various pharmaceuticals and bioactive molecules. Its structure makes it valuable for constructing complex indole derivatives, which are often explored for their potential therapeutic properties, including anticancer and antimicrobial activities. Additionally, it is utilized in the development of fluorescent probes and dyes due to its ability to modify light absorption and emission properties. Researchers also employ it in the study of enzyme inhibitors and receptor ligands, leveraging its reactive aldehyde group for further chemical modifications.