Used as a key intermediate in the synthesis of indole-based pharmaceuticals, particularly in the development of serotonin receptor modulators and other neuroactive compounds. Its protected aldehyde and hydroxyl groups allow selective functionalization, making it valuable in multi-step organic syntheses. Commonly employed in the preparation of tryptamine derivatives and analogs for medicinal chemistry research. Also utilized in the construction of complex heterocyclic systems via cyclization or condensation reactions.