Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of serotonin receptor modulators and other central nervous system agents. Its structure serves as a building block for indole-based bioactive compounds, making it valuable in medicinal chemistry research. Commonly employed in the preparation of analogs for drug discovery programs targeting neurological disorders, inflammation, and cancer. Also utilized in the creation of fluorescent probes and labeled compounds for biochemical assays due to its reactive functional groups.