Used as an intermediate in the synthesis of pharmaceuticals and agrochemicals, particularly in the development of bioactive molecules. Its functional groups—bromine and hydroxyl—allow for selective modifications, making it valuable in constructing complex organic compounds. Commonly employed in cross-coupling reactions, such as Suzuki or Heck reactions, to form carbon-carbon bonds. Also utilized in the preparation of benzylated derivatives for research in medicinal chemistry, including potential central nervous system agents and enzyme inhibitors. Its methoxy and bromo substituents provide steric and electronic properties that influence reactivity and binding in target molecules.