Used in the synthesis of pharmaceuticals and biologically active compounds, particularly in the development of serotonin receptor modulators and tryptamine derivatives. Its structure serves as a key intermediate in creating analogs for neurological research, including potential antidepressants and anti-migraine agents. Also employed in the preparation of fluorescent probes and dyes due to its indole backbone, which exhibits favorable photophysical properties. Commonly utilized in organic synthesis for constructing complex heterocyclic systems in medicinal chemistry.