Used in organic synthesis to create complex molecules, particularly in the development of pharmaceuticals and bioactive compounds. It serves as a key intermediate in the production of indole derivatives, which are important in drug discovery for their potential therapeutic properties. Additionally, it is utilized in the synthesis of natural products and agrochemicals, contributing to the development of new pesticides and herbicides. Its role in the creation of fluorescent dyes and pigments also makes it valuable in material science and industrial applications.