Used primarily in organic synthesis, this compound serves as a key intermediate in the production of complex organic molecules. Its structure, featuring acetyl, bromo, and methoxy groups, makes it suitable for various coupling reactions, such as Suzuki or Sonogashira reactions, which are essential in creating pharmaceuticals and advanced materials. Additionally, it is employed in the development of dyes and pigments due to its naphthalene backbone, which contributes to color stability and intensity. Its reactivity also allows for modifications in drug discovery processes, aiding in the creation of novel therapeutic agents.