Used in pharmaceutical research as a key intermediate in the synthesis of kinase inhibitors, particularly in the development of anticancer agents. Its structure allows for selective modification, making it valuable in creating compounds that target specific signaling pathways in tumor cells. Also employed in the preparation of bioactive molecules for neurological disorder studies due to its similarity to indole alkaloid frameworks. Commonly utilized in cross-coupling reactions like Suzuki and Heck reactions to build complex heterocyclic systems for drug discovery.