Used in pharmaceutical research as an intermediate in the synthesis of bioactive compounds, particularly those targeting neurological and psychiatric disorders. Its structure supports the development of molecules with serotonin receptor affinity, making it valuable in the design of antidepressants and antipsychotics. Also employed in the preparation of fluorescent probes for biochemical assays due to its favorable photophysical properties. Serves as a building block in the creation of complex indole-based natural product analogs for drug discovery.