This compound is primarily utilized in the field of medicinal chemistry as a key intermediate in the synthesis of various pharmaceutical agents. Its structure is particularly valuable in the development of compounds targeting the central nervous system, such as potential treatments for neurological disorders like depression, anxiety, and schizophrenia. Additionally, it serves as a building block in the creation of molecules with potential anticancer properties, where its unique pyrrolopyridine core can be modified to enhance binding affinity to specific biological targets. Researchers also explore its use in designing inhibitors for enzymes involved in disease pathways, making it a versatile component in drug discovery and development.