Used in organic synthesis as an intermediate for pharmaceuticals and bioactive compounds. Serves as a building block in the development of indole-based drugs, particularly those targeting neurological and psychiatric disorders due to its structural similarity to serotonin and melatonin. Also employed in the synthesis of fluorescent dyes and sensors owing to its electron-rich aromatic system. Shows potential in medicinal chemistry for designing inhibitors and receptor ligands, especially in cancer and inflammation research.