Used in organic synthesis as an intermediate for pharmaceuticals and bioactive compounds. Serves as a building block in the preparation of indole-based drugs, including those with neurological and psychiatric applications. Employed in research settings to develop serotonin receptor modulators due to the structural similarity to neurotransmitter molecules. Also utilized in the synthesis of fluorescent dyes and probes for biochemical labeling and imaging. Shows potential in the development of anti-inflammatory and anticancer agents through derivatization. Commonly used in medicinal chemistry for structure-activity relationship (SAR) studies involving indole derivatives.