This compound is primarily utilized in biochemical research, particularly in the study of serotonin receptors and related pathways. It serves as a key intermediate in the synthesis of various indole derivatives, which are often explored for their potential pharmacological properties. Researchers employ it to investigate the binding affinity and activity of serotonin analogs, aiding in the development of new therapeutic agents targeting neurological and psychiatric disorders. Additionally, it is used in the preparation of labeled compounds for tracer studies, enabling detailed analysis of biological processes and receptor interactions. Its role in the synthesis of complex molecules makes it valuable in medicinal chemistry and drug discovery efforts.