Used primarily in organic synthesis, this compound serves as a versatile intermediate for the production of pharmaceuticals and agrochemicals. Its bromo, hydroxymethyl, and cyano groups make it a valuable building block for constructing complex molecules, particularly in the development of active pharmaceutical ingredients (APIs). It is also employed in the synthesis of fine chemicals and specialty materials, where its functional groups allow for further chemical modifications. Additionally, it finds application in research and development for creating novel compounds with potential biological activity.