Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of serotonin receptor modulators and kinase inhibitors. Its structure supports the construction of complex heterocyclic systems found in bioactive molecules. Commonly employed in research for creating novel compounds with potential antidepressant, antipsychotic, or anticancer activity. Also utilized in the preparation of fluorescent dyes and optoelectronic materials due to its conjugated indole framework.