This chemical is primarily utilized in organic synthesis as a key intermediate for the production of various pharmaceuticals and complex organic compounds. Its bromine atom makes it a valuable building block in cross-coupling reactions, such as Suzuki or Heck reactions, which are essential for creating biologically active molecules. Additionally, its structure is often exploited in the development of compounds with potential therapeutic properties, particularly in the fields of neurology and oncology. Researchers also use it to study reaction mechanisms and to synthesize novel materials with specific chemical properties.