Used in the synthesis of pharmaceutical intermediates, particularly in the development of serotonin receptor modulators and other neuroactive compounds. Its aldehyde functional group allows for easy derivatization, making it valuable in constructing complex indole-based structures found in bioactive molecules. Commonly employed in medicinal chemistry for building blocks in drug discovery programs targeting central nervous system disorders. Also utilized in the preparation of fluorescent probes and dyes due to the inherent photophysical properties of the indole scaffold.