Used in the synthesis of pharmaceutical intermediates, particularly in the development of serotonin receptor modulators. It serves as a key building block in the production of tryptamine-derived compounds, which are important in neuropharmacology. Its aldehyde functional group allows for easy modification in multi-step organic syntheses, making it valuable in creating bioactive molecules. Commonly applied in research settings for developing potential antidepressants and antipsychotic agents. Also utilized in the preparation of fluorescent probes due to its indole backbone, which can enhance detection sensitivity in biochemical assays.