This chemical is primarily utilized in biochemical research due to its structural similarity to neurotransmitters like serotonin. It serves as a precursor or intermediate in the synthesis of more complex compounds, particularly those targeting neurological pathways. Researchers often employ it in studies related to receptor binding and signal transduction processes. Additionally, it has potential applications in the development of therapeutic agents for neurological disorders, such as depression or anxiety, owing to its interaction with serotonin receptors. Its role in modulating neurotransmitter activity makes it valuable in pharmacological and neurochemical studies.