Used in pharmaceutical research as a key intermediate in the synthesis of biologically active compounds, particularly in the development of kinase inhibitors and anti-inflammatory agents. Its structure supports the design of molecules targeting specific enzyme pathways, making it valuable in drug discovery. Also employed in the preparation of fluorescent probes for biochemical assays due to its favorable photophysical properties. Commonly utilized in heterocyclic chemistry to build complex indole derivatives with potential anticancer and neuroprotective activities.