Used primarily in organic synthesis as an intermediate for pharmaceuticals and bioactive compounds. Shows potential in the development of serotonin receptor modulators due to structural similarity to indole-based neurotransmitters. Employed in research settings for studying neurodegenerative diseases, particularly in designing inhibitors for monoamine oxidase enzymes. Also utilized in the preparation of fluorescent probes for biochemical imaging, leveraging its conjugated structure for detectable optical properties. Limited industrial use, mainly confined to laboratory-scale medicinal chemistry and drug discovery.