This compound is primarily utilized in organic synthesis as an intermediate for the development of more complex chemical structures. It is often employed in the pharmaceutical industry for the synthesis of bioactive molecules, particularly those targeting neurological or psychiatric disorders. The bromine atom in its structure makes it a valuable precursor for cross-coupling reactions, such as Suzuki or Buchwald-Hartwig reactions, which are essential in creating diverse organic compounds. Additionally, its dioxolane group provides stability and can influence the pharmacokinetic properties of the final drug molecules. Researchers also explore its potential in agrochemical research for designing novel pesticides or herbicides due to its unique structural features.