Used primarily as a synthetic intermediate in organic chemistry, this compound serves in the preparation of pharmaceuticals and agrochemicals. Its structure allows for functional group transformations, making it valuable in building complex molecules. The bromine moiety enables cross-coupling reactions, such as Suzuki or Heck reactions, commonly used in drug development. It may also act as a precursor in the synthesis of psychoactive substances, which has led to regulatory scrutiny in some regions. Due to such potential misuse, its application is largely restricted to controlled research and industrial settings.