Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of serotonin receptor modulators and other neuroactive compounds. Its structure supports the construction of complex indole-based molecules found in bioactive agents. Commonly employed in research settings for generating analogs in medicinal chemistry programs targeting central nervous system disorders. Also utilized in the preparation of fluorescent probes and dyes due to its favorable photophysical properties when incorporated into larger conjugated systems.