Used primarily in organic synthesis, this compound serves as a key intermediate in the production of various pharmaceuticals and agrochemicals. Its functional groups, including the bromo and formyl substituents, make it versatile for cross-coupling reactions, such as Suzuki or Heck reactions, enabling the construction of complex molecules. It is also employed in the development of organic electronic materials, including light-emitting diodes (LEDs) and photovoltaic cells, due to its ability to modify electronic properties. Additionally, it finds utility in the synthesis of dyes and pigments, contributing to the creation of colorants with specific optical characteristics.