Used as an intermediate in organic synthesis, particularly in the preparation of indole-based pharmaceuticals and bioactive compounds. It serves in the development of serotonin receptor modulators and tryptamine derivatives due to its structural similarity to natural indole alkaloids. Also employed in research settings for synthesizing fluorescent probes and studying metabolic pathways involving indole compounds. Its acetyl groups facilitate selective reactions, making it valuable in multi-step synthesis where controlled functionalization is required.