This compound is primarily utilized in the field of medicinal chemistry and drug development. It serves as a key intermediate in the synthesis of various biologically active molecules, particularly those targeting central nervous system disorders. Researchers have explored its potential in designing compounds with antipsychotic and antidepressant properties, owing to its structural similarity to indole derivatives known to interact with serotonin receptors. Additionally, it has been investigated for its role in developing inhibitors for specific enzymes involved in neurodegenerative diseases. Its unique structure allows for modifications that can enhance binding affinity and selectivity, making it a valuable scaffold in the discovery of novel therapeutic agents.