Used in pharmaceutical research as a key intermediate in the synthesis of serotonin receptor modulators. Shows potential in the development of central nervous system agents, particularly for treating neurological disorders such as depression, anxiety, and migraines. Also employed in the preparation of tryptamine derivatives with psychoactive properties for scientific study. Its structure supports binding to 5-HT receptors, making it valuable in neuropharmacology. Additionally utilized in the creation of fluorescent probes for biochemical assays due to its indole backbone.