Used primarily in organic synthesis, this compound serves as a key intermediate in the production of various pharmaceuticals and agrochemicals. It is particularly valuable in the construction of complex molecules through cross-coupling reactions, such as Suzuki or Heck reactions. Additionally, it finds application in the synthesis of dyes and pigments due to its ability to introduce functional groups into aromatic systems. Its bromine atom makes it a useful reagent for further functionalization, enabling the creation of diverse chemical structures.