Used in organic synthesis as an intermediate for pharmaceuticals and biologically active compounds. Serves as a building block in the development of indole-based drugs, which are common in treatments for neurological disorders, inflammation, and cancer. Also employed in research settings to study serotonin receptor interactions due to the structural similarity to endogenous neurotransmitters. Its amine functionality allows for easy derivatization, making it valuable in medicinal chemistry for creating compound libraries in drug discovery.