Used as an intermediate in the synthesis of pharmaceuticals, particularly in the development of alkaloid-based drugs. It serves as a building block for compounds with potential antitumor, antiviral, and neuroactive properties. Commonly employed in research for creating derivatives that interact with serotonin receptors, making it valuable in the study of central nervous system disorders. Also utilized in the preparation of natural product analogs and in medicinal chemistry for structure-activity relationship studies.