Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of serotonin receptor modulators and other central nervous system agents. Its indole core structure makes it valuable in creating bioactive molecules with potential antidepressant, anxiolytic, or antipsychotic activity. Also employed in the preparation of analogs for structure-activity relationship studies in drug discovery. Additionally, it serves as a building block in the synthesis of dyes and fluorescent compounds due to the inherent optical properties of the indole scaffold.