Used in organic synthesis as a key intermediate for pharmaceuticals and biologically active compounds. Serves as a building block in the preparation of tryptamine-derived substances, which are relevant in neuroscience research and drug development. Also utilized in the study of serotonin analogs and other indole-containing molecules due to its structural similarity to natural neurotransmitters. Its hydroxyl and amino functional groups allow for easy modification in synthetic pathways, making it valuable in medicinal chemistry for creating libraries of bioactive molecules.