Used in the synthesis of pharmaceutical intermediates, particularly in the development of serotonin receptor modulators. It serves as a building block for indole-based compounds with potential neurological activity. Commonly employed in research settings to construct complex heterocyclic systems for drug discovery. Also utilized in the preparation of fluorescent probes due to the indole scaffold’s photophysical properties. Its hydroxy and amino functional groups allow for further chemical modifications, making it valuable in medicinal chemistry for creating libraries of bioactive molecules.