Used in organic synthesis as a key intermediate for the preparation of indole-based pharmaceuticals and bioactive compounds. Its hydroxyl groups allow for selective functionalization, making it valuable in the development of serotonin receptor ligands and other neuroactive agents. Also employed in the study of oxidative cyclization reactions due to its ability to form indole scaffolds under mild conditions. Commonly applied in medicinal chemistry research for designing inhibitors targeting enzymes involved in neurological disorders.