This compound is primarily utilized in the field of organic synthesis and pharmaceutical research. It serves as a key intermediate in the production of various biologically active molecules, particularly those targeting neurological and psychiatric disorders. Its indole structure makes it valuable for developing compounds that interact with serotonin receptors, which are crucial in mood regulation and cognitive functions. Additionally, it is employed in the synthesis of potential anti-inflammatory and anticancer agents due to its ability to modulate specific biochemical pathways. Researchers also explore its use in creating novel drug candidates for treating neurodegenerative diseases like Alzheimer's and Parkinson's. Its versatility in chemical reactions further enhances its role in medicinal chemistry and drug discovery.