Used primarily as an intermediate in the synthesis of pharmaceuticals and agrochemicals, this compound plays a key role in constructing complex organic molecules. Its halogenated structure allows for selective cross-coupling reactions, making it valuable in drug development, particularly in the creation of biologically active benzofuran derivatives. It is also employed in research settings to design novel compounds with potential antimicrobial, anti-inflammatory, or anticancer properties. Due to the presence of both bromo and chloro substituents, it offers multiple reaction pathways, enabling fine-tuning of molecular structure in medicinal chemistry projects.