This compound is primarily utilized in the field of medicinal chemistry as a key intermediate in the synthesis of various biologically active molecules. Its structure is particularly valuable in the development of compounds targeting central nervous system disorders, such as depression and anxiety, due to its indole moiety, which is a common feature in many psychoactive drugs. Additionally, it serves as a building block in the creation of potential therapeutic agents for treating neurodegenerative diseases. Researchers also explore its use in designing inhibitors for specific enzymes or receptors involved in pathological processes, making it a versatile tool in drug discovery and development.