Used in organic synthesis as a building block for creating more complex molecules, particularly in pharmaceutical research. It serves as an intermediate in the development of potential drug candidates, especially those targeting neurological or psychiatric disorders. The compound's structure is valuable in designing molecules that interact with specific biological receptors. Additionally, it is employed in the study of indole derivatives, which are known for their diverse biological activities. Its methoxy and carboxylic acid functional groups make it versatile for further chemical modifications.