Used as a key intermediate in the synthesis of indole-based pharmaceuticals and biologically active compounds. Commonly employed in the development of kinase inhibitors and anticancer agents due to its ability to participate in palladium-catalyzed cross-coupling reactions. Also utilized in the preparation of tryptamine and tryptophan derivatives, which are important in neurochemistry and drug discovery. Its nitrile group allows for further functionalization, making it valuable in building complex heterocyclic systems for medicinal chemistry research.