Used primarily as a versatile intermediate in organic synthesis, particularly in pharmaceutical and agrochemical industries. Its structure allows for selective transformations, such as bromine displacement via nucleophilic substitution, making it valuable in constructing complex aromatic compounds. Commonly employed in the preparation of ketones, esters, and heterocyclic systems through cross-coupling reactions or reduction pathways. Also utilized in the development of bioactive molecules where the acetate group can be hydrolyzed or further functionalized. Its reactivity profile supports use in research settings for synthesizing analogs in medicinal chemistry programs.