This compound is primarily utilized in pharmaceutical research and development, particularly in the synthesis of novel therapeutic agents. Its structure, featuring indole and benzyloxy groups, makes it a valuable intermediate in the design of potential drugs targeting various biological pathways. It is often explored for its potential anti-inflammatory, anticancer, and antimicrobial properties due to its ability to interact with specific enzymes and receptors. Additionally, it serves as a key building block in organic synthesis, enabling the creation of more complex molecules for further biological evaluation. Researchers also investigate its role in modulating signaling pathways, making it a promising candidate for drug discovery efforts.