This chemical is primarily used in organic synthesis and pharmaceutical research. It serves as a key intermediate in the development of various biologically active compounds, particularly those targeting neurological and psychiatric disorders. Its structure allows for the creation of indole-based derivatives, which are often explored for their potential therapeutic properties, such as serotonin receptor modulation. Additionally, it is utilized in the synthesis of complex molecules for drug discovery, aiding in the development of new medications for conditions like depression, anxiety, and other CNS-related diseases. Its application extends to material science, where it contributes to the creation of organic semiconductors and fluorescent dyes.