This compound is primarily utilized in the field of medicinal chemistry and drug development. It serves as a key intermediate in the synthesis of various biologically active molecules, particularly those targeting neurological and psychiatric disorders. Its structure is often incorporated into compounds designed to interact with specific receptors in the brain, such as serotonin or dopamine receptors, making it valuable in the creation of potential therapeutic agents. Additionally, it is used in research to study the structure-activity relationships of indole derivatives, aiding in the optimization of drug candidates for improved efficacy and reduced side effects.