Used in the synthesis of various pharmaceuticals, particularly in the development of drugs targeting neurological disorders. It serves as a key intermediate in the production of serotonin receptor agonists, which are crucial for treating conditions like migraines and depression. Additionally, it is employed in organic chemistry research for the creation of complex indole derivatives, which have potential applications in medicinal chemistry and drug discovery. Its role in the synthesis of bioactive compounds makes it valuable in the development of new therapeutic agents.