Used as a key intermediate in the synthesis of pharmaceutical compounds, particularly in the development of serotonin receptor modulators and other central nervous system agents. Its functional groups allow for selective derivatization, making it valuable in medicinal chemistry for constructing complex indole-based molecules. Commonly employed in research settings to design analogs for biological evaluation, especially in studies related to neurological disorders and inflammation. Also utilized in the preparation of fluorescent probes due to the inherent photophysical properties of the indole scaffold.