Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of serotonin receptor modulators and other central nervous system agents. Its structure allows for selective functionalization, making it valuable in creating biologically active compounds. Commonly employed in research settings for the preparation of indole-based derivatives with potential antipsychotic, antidepressant, or anti-inflammatory properties. Also utilized in the design of kinase inhibitors and in medicinal chemistry for scaffold diversification.