This compound is primarily utilized in the field of organic synthesis and pharmaceutical research. It serves as a key intermediate in the development of various biologically active molecules, particularly those targeting neurological and psychiatric disorders. Its indole core structure is significant in the design of compounds that interact with serotonin receptors, making it valuable for creating potential therapeutic agents for conditions like depression, anxiety, and migraines. Additionally, it is explored in the synthesis of natural product analogs and as a building block in the preparation of complex heterocyclic compounds for drug discovery.