This compound is primarily utilized in organic synthesis and pharmaceutical research due to its indole core structure, which is a key motif in many biologically active molecules. It serves as an intermediate in the development of various therapeutic agents, particularly those targeting neurological and psychiatric disorders. Its methoxy and ester functional groups make it a versatile building block for modifying chemical properties and enhancing drug efficacy. Additionally, it is employed in the study of structure-activity relationships to optimize the design of new compounds with potential medicinal applications.