Used in pharmaceutical research as a key intermediate in the synthesis of serotonin receptor modulators and other neuroactive compounds. Commonly employed in the development of antidepressants and antipsychotic drugs due to its structural similarity to tryptamine. Also utilized in agrochemicals for creating plant growth regulators. Serves as a building block in the preparation of fluorescent dyes and organic semiconductors. Frequently applied in medicinal chemistry for structure-activity relationship (SAR) studies involving indole derivatives.