Used in organic synthesis as an intermediate for pharmaceuticals and biologically active compounds. Serves as a building block in the preparation of indole-based derivatives with potential medicinal properties, including anti-inflammatory, antimicrobial, and central nervous system agents. Also employed in research related to serotonin receptor modulators due to structural similarity to tryptophan and indole alkaloids. Its carboxylic acid functionality allows for easy derivatization, making it valuable in drug discovery and development.