Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of serotonin receptor agonists and antagonists. It plays an important role in the production of compounds targeting neurological and psychiatric disorders such as depression, anxiety, and migraine. Its structure allows for easy functionalization, making it valuable in medicinal chemistry for building complex heterocyclic systems. Also employed in the preparation of dyes and functional materials due to its aromatic and amine-reactive properties.