Used as a key intermediate in the synthesis of pharmaceuticals and bioactive compounds, particularly in the development of serotonin receptor modulators and other central nervous system agents. Its structure supports functionalization at multiple sites, making it valuable in medicinal chemistry for constructing indole-based drug candidates. Commonly employed in research settings to design compounds with potential antidepressant, anxiolytic, or antipsychotic activity. Also utilized in the preparation of fluorescent probes and imaging agents due to the inherent photophysical properties of the indole scaffold.