Used in the synthesis of pharmaceutical compounds, particularly in the development of drugs targeting neurological disorders. It serves as a key intermediate in the production of serotonin receptor agonists and antagonists, which are crucial for treating conditions like depression, anxiety, and migraines. Additionally, it is employed in organic chemistry research for the creation of complex indole derivatives, which have potential applications in medicinal chemistry and drug discovery. Its role in the development of bioactive molecules makes it valuable in the study of biochemical pathways and therapeutic agents.