This compound is utilized in organic synthesis as a building block for the development of more complex molecules, particularly in pharmaceutical research. It serves as a key intermediate in the preparation of various bioactive compounds, including potential drug candidates targeting neurological disorders and cancer. Its bromine and hydroxyl functional groups make it a versatile reagent for coupling reactions, enabling the creation of diverse chemical structures. Additionally, it is employed in the synthesis of materials for optoelectronic applications, contributing to the development of organic light-emitting diodes (OLEDs) and other advanced materials.