This compound is primarily utilized in pharmaceutical research and development, particularly in the synthesis of bioactive molecules. It serves as a key intermediate in the production of compounds with potential therapeutic applications, especially in the treatment of neurological disorders. Its structural framework is valuable for designing drugs that target serotonin receptors, which play a critical role in mood regulation and mental health. Additionally, it is explored in the development of potential anticancer agents due to its carbazole core, which is known for its biological activity. Researchers also investigate its use in creating novel compounds for treating neurodegenerative diseases like Alzheimer's and Parkinson's.