This compound is primarily utilized in organic synthesis as a versatile building block for the development of more complex molecules. It serves as a key intermediate in the production of pharmaceuticals, particularly in the synthesis of compounds with potential therapeutic properties. Its bromomethyl group allows for further functionalization, making it valuable in creating derivatives that can be used in drug discovery and development. Additionally, it finds application in materials science, where it contributes to the synthesis of organic semiconductors and other advanced materials. Its role in cross-coupling reactions also makes it useful in creating polymers and other specialized chemical products.