Used in organic synthesis as an intermediate for pharmaceuticals and biologically active compounds. Serves as a building block in the development of indole-based derivatives, which are important in medicinal chemistry due to their presence in many natural products and drugs. Commonly employed in research related to serotonin receptor ligands and kinase inhibitors. Also utilized in the study of tryptophan metabolism analogs and in the design of compounds with potential neuroactive or anticancer properties.