Used as a key intermediate in the synthesis of pharmaceuticals and bioactive compounds, particularly in the development of serotonin receptor agonists and antagonists. Commonly employed in research related to central nervous system disorders due to its structural similarity to tryptamine. Also utilized in the preparation of novel indole-based derivatives for drug discovery programs. Serves as a building block in organic synthesis, especially in cross-coupling reactions to form C–C bonds for complex heterocyclic systems.