Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of serotonin receptor modulators and other neuroactive compounds. Its protected hydroxyl and indole functionalities make it valuable in multi-step organic syntheses where selective reactivity is required. Commonly employed in the preparation of tryptamine-derived drugs, it enables efficient construction of complex molecular architectures in medicinal chemistry research. Also utilized in the production of agrochemicals and bioactive molecules due to its stability and reactivity profile.