Used primarily in organic synthesis, this compound serves as a key intermediate in the production of various pharmaceuticals, particularly those targeting neurological and psychiatric disorders. Its indole structure makes it valuable for developing serotonin receptor modulators, which are crucial in treating conditions like depression, anxiety, and migraines. Additionally, it is employed in the synthesis of agrochemicals, contributing to the creation of pesticides and herbicides. Its reactivity and functional groups allow for versatile modifications, enabling researchers to design and optimize molecules for specific biological activities.