Used as an intermediate in organic synthesis, particularly in the development of pharmaceuticals and fine chemicals. Its bromine functionality allows for cross-coupling reactions, such as Suzuki or Heck reactions, enabling the construction of complex aromatic systems. The benzyl-protected hydroxyl group can be selectively deprotected under mild conditions, making it useful in multi-step syntheses where controlled reactivity is required. It is also employed in the preparation of naphthalene-based derivatives with potential biological activity, including kinase inhibitors and anti-inflammatory agents.