This compound is primarily utilized in organic synthesis as a versatile intermediate for the production of more complex chemical structures. Its functional groups, including the bromo, fluoro, and hydroxy substituents, make it a valuable building block in pharmaceutical research, particularly for developing active pharmaceutical ingredients (APIs) with specific biological activities. Additionally, it is used in material science for synthesizing specialized polymers and coatings, where the presence of halogens can impart unique properties such as enhanced stability or reactivity. Its application extends to agrochemicals, where it serves as a precursor in the synthesis of herbicides or fungicides.