Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the production of selective serotonin reuptake inhibitors (SSRIs) and other central nervous system active compounds. It serves as a building block in the development of anti-depressant and anti-anxiety medications due to its structural similarity to indole alkaloids. Also employed in the preparation of agrochemicals, including plant growth regulators and certain pesticides. Its derivatives are explored in research for their potential anti-inflammatory and anticancer properties. Commonly utilized in organic synthesis for constructing complex heterocyclic systems.