Used primarily as an intermediate in organic synthesis, it plays a key role in the production of pharmaceuticals, agrochemicals, and specialty chemicals. Its bromine and fluorine substituents make it a valuable building block for creating complex molecules, particularly in cross-coupling reactions like Suzuki and Heck reactions. Additionally, it is employed in the development of liquid crystals and materials for organic electronics due to its ability to modify electronic properties. Its stability and reactivity also make it useful in research for studying aromatic substitution mechanisms.