Used in organic synthesis as a key intermediate for pharmaceuticals and bioactive compounds. Serves as a building block in the preparation of indole-based drugs, including those with potential antitumor, antiviral, and anti-inflammatory properties. Commonly employed in the development of serotonin receptor ligands and other neuroactive agents due to its structural similarity to tryptamine derivatives. Also utilized in the synthesis of fluorescent dyes and sensors owing to its inherent photophysical properties. Plays a role in medicinal chemistry research for designing inhibitors targeting specific enzymes involved in metabolic and signaling pathways.