This compound is primarily utilized in the field of medicinal chemistry as a key intermediate in the synthesis of more complex molecules. Its structure, featuring an indole moiety, makes it particularly valuable in the development of pharmaceuticals targeting the central nervous system. Researchers often employ it in the creation of compounds that interact with serotonin receptors, which are crucial for treating conditions like depression, anxiety, and migraines. Additionally, its reactive carbonyl group allows for further functionalization, enabling the design of novel therapeutic agents with enhanced efficacy and selectivity.