Used primarily in organic synthesis, this compound serves as a key intermediate in the production of pharmaceuticals and agrochemicals. Its bromine and nitrile functional groups make it versatile for further chemical modifications, enabling the creation of complex molecules. It is often employed in cross-coupling reactions, such as Suzuki or Sonogashira couplings, to construct biologically active compounds. Additionally, it finds utility in the development of herbicides and fungicides, contributing to crop protection strategies. Its hydroxyl group also allows for derivatization, enhancing its role in synthesizing specialty chemicals.