This chemical is primarily utilized in organic synthesis as an intermediate for the production of more complex compounds. It is often employed in the pharmaceutical industry for the development of active pharmaceutical ingredients (APIs), where its structure can be modified to create molecules with therapeutic properties. Additionally, it serves as a building block in the synthesis of agrochemicals, contributing to the development of pesticides or herbicides. Its bromine and benzyloxy functional groups make it a versatile reagent in cross-coupling reactions, such as Suzuki or Buchwald-Hartwig reactions, which are essential in creating carbon-carbon or carbon-nitrogen bonds. This compound is also used in material science for the preparation of specialty chemicals or functional materials.