Used in pharmaceutical research as an intermediate in the synthesis of biologically active compounds, particularly those targeting central nervous system disorders. Its structure supports the development of serotonin receptor modulators, making it valuable in the discovery of antidepressants and antipsychotic drugs. Also employed in the preparation of fluorescent probes for biochemical assays due to its indole backbone, which enhances photostability and emission properties. Commonly utilized in medicinal chemistry for structure-activity relationship (SAR) studies involving indole derivatives.