Used in organic synthesis as an intermediate for pharmaceuticals and biologically active compounds. Serves as a building block in the preparation of indole-based derivatives, which are common in medicinal chemistry. Found in research related to serotonin analogs and neuroactive substances due to structural similarity to tryptophan and tryptamine. Also employed in the development of plant growth regulators and auxin mimics in agricultural chemistry. Its derivatives are explored for potential anti-inflammatory, antimicrobial, and anticancer activities.