Used in organic synthesis as an intermediate for pharmaceuticals and bioactive compounds. Serves as a building block in the development of indole-based derivatives, which show potential in medicinal chemistry for their antimicrobial, antiviral, and anticancer activities. Also employed in the study of enzyme inhibitors, particularly in research related to monoamine oxidase and kinase inhibition. Its structure allows for easy functionalization, making it valuable in the design of novel drug candidates and in combinatorial chemistry for high-throughput screening.