Used as an intermediate in organic synthesis, particularly in the development of pharmaceuticals and fine chemicals. Its structure, featuring bromo, hydroxyl, and acetyl (ketone) functional groups, supports derivatization for creating biologically active compounds, including potential anti-inflammatory and anticancer agents. The bromo and hydroxyl functional groups allow for cross-coupling reactions, while the acetyl group facilitates nucleophilic additions, enolization, and conjugate reactions, enabling further chemical modifications valuable in medicinal chemistry research. Also employed in the synthesis of fluorescent dyes due to the naphthalene backbone, which contributes to its utility in materials science and labeling applications.