This compound is primarily utilized in the field of pharmaceutical research and development. It serves as a key intermediate in the synthesis of various biologically active molecules, particularly those targeting neurological and psychiatric disorders. Its structural framework is often incorporated into the design of potential drug candidates due to its indole moiety, which is a common feature in many therapeutic agents. Additionally, it is employed in organic synthesis to create complex heterocyclic compounds, which are further explored for their medicinal properties. Its hydrochloride form enhances solubility, making it more suitable for use in experimental and industrial processes.