Used primarily as an intermediate in organic synthesis, this compound plays a crucial role in the production of pharmaceuticals, agrochemicals, and specialty chemicals. Its bromo and hydroxy groups make it a versatile building block for constructing complex molecules, particularly in the development of active pharmaceutical ingredients (APIs). Additionally, it is employed in the synthesis of herbicides and insecticides, contributing to crop protection. The nitrile group further enhances its reactivity, enabling its use in various coupling reactions and the creation of heterocyclic compounds. Its applications extend to material science, where it is utilized in the development of advanced polymers and functional materials.