Used in the synthesis of various pharmaceuticals, particularly in the development of compounds with potential therapeutic effects. It serves as a key intermediate in the production of drugs targeting neurological disorders, such as serotonin receptor modulators, due to its indole structure. Additionally, it is employed in organic chemistry research for the creation of complex molecules with biological activity. Its methoxy group enhances its reactivity, making it valuable in the design of novel chemical entities for medicinal and experimental purposes.