Used in research as a key intermediate for synthesizing bioactive compounds, particularly those targeting neurological pathways. It serves in the development of serotonin receptor ligands due to its structural similarity to tryptamine. Commonly employed in studies related to neuromodulation, mood regulation, and psychoactive substance metabolism. Also utilized in the preparation of fluorescent probes for imaging biological systems. Its derivatives are explored for potential therapeutic effects in depression, anxiety, and neurodegenerative disorders.