Used in organic synthesis as an intermediate for pharmaceuticals and bioactive compounds. Serves as a building block in the development of serotonin receptor ligands due to structural similarity to tryptamine. Employed in research related to neurological disorders and mood regulation. Also utilized in the preparation of fluorescent dyes and sensors for metal ion detection. Common in agrochemical research for designing plant growth regulators. Shows potential in medicinal chemistry for anticancer and antimicrobial agent development.