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 with potential medicinal properties, including anti-inflammatory, antimicrobial, and central nervous system agents. Also employed in research related to serotonin analogs and tryptophan metabolism due to structural similarity to natural indolealkyl acids. Commonly utilized in the development of new drug candidates targeting neurological and psychiatric disorders.