Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of selective serotonin reuptake inhibitors (SSRIs) and other central nervous system agents. Its structure supports binding to neurotransmitter receptors, making it valuable in creating compounds with antidepressant or anxiolytic effects. Also employed in research for developing novel psychoactive substances and studying receptor interactions due to its ability to mimic core indole structures found in neurochemicals.