Used primarily as a key intermediate in the synthesis of pharmaceuticals, especially in the production of serotonin reuptake inhibitors and other central nervous system agents. It serves as a building block in the development of antidepressants and anxiolytic drugs due to its structural similarity to indole alkaloids. Also employed in the preparation of fluorescent probes and dyes for biochemical imaging, where its amine functionality allows for easy modification and conjugation. Its derivatives are explored in medicinal chemistry for their potential antitumor and antimicrobial activities.