Used in the synthesis of pharmaceutical intermediates, particularly in the development of serotonin receptor modulators. It serves as a key building block in the preparation of bioactive indole derivatives, which are important in central nervous system drug research. Commonly employed in medicinal chemistry for constructing complex heterocyclic systems via cross-coupling or reduction reactions. Also utilized in the production of tryptamine-related compounds with potential antidepressant or antipsychotic activity.