This compound is primarily utilized in the field of organic synthesis, where it serves as a key intermediate in the production of various biologically active molecules. Its structure, featuring both an indole core and a nitrile group, makes it particularly valuable in the development of pharmaceuticals, especially those targeting neurological and oncological disorders. Researchers often employ it in the synthesis of compounds that exhibit potential as serotonin receptor modulators, which can be applied in the treatment of conditions like depression, anxiety, and migraines. Additionally, its benzyloxy group provides a versatile handle for further chemical modifications, enabling the creation of diverse derivatives for drug discovery and development. Its role in the synthesis of complex organic molecules underscores its importance in medicinal chemistry and drug research.