This compound is primarily utilized in the synthesis of various pharmaceutical agents, particularly those targeting neurological disorders. It serves as a key intermediate in the production of serotonin receptor agonists, which are important in treating conditions like migraines, depression, and anxiety. Additionally, it is used in research to develop novel compounds that modulate serotonin pathways, aiding in the study of mood regulation and cognitive functions. Its structural similarity to serotonin makes it valuable in the design of drugs that interact with serotonin receptors, offering potential therapeutic benefits for psychiatric and neurological conditions.