Used primarily in pharmaceutical research, this compound is a key intermediate in the synthesis of various bioactive molecules. It plays a significant role in the development of drugs targeting neurological disorders, particularly those related to serotonin receptors. Its indole structure makes it valuable for creating compounds that mimic or modulate serotonin, aiding in the treatment of conditions like depression, anxiety, and migraines. Additionally, it is utilized in organic synthesis for constructing complex heterocyclic frameworks, which are essential in medicinal chemistry for discovering new therapeutic agents.