Used in pharmaceutical research as a key intermediate in the synthesis of biologically active compounds, particularly in the development of serotonin receptor modulators and other neuroactive agents. Its structure supports functionalization at multiple sites, making it valuable in medicinal chemistry for constructing complex indole-based molecules. Also employed in the preparation of fluorescent probes and optoelectronic materials due to its electron-rich aromatic framework. Commonly utilized in cross-coupling reactions such as Suzuki and Buchwald-Hartwig to build advanced intermediates for drug discovery.