This compound is primarily utilized in organic synthesis as an intermediate for the development of more complex chemical structures. It is often employed in pharmaceutical research for the synthesis of potential drug candidates, particularly in the creation of molecules with therapeutic properties. Additionally, it serves as a building block in the synthesis of organic materials, including dyes and pigments, due to its aromatic and functional group characteristics. Its bromine atom makes it a valuable precursor in cross-coupling reactions, which are crucial in the construction of carbon-carbon bonds in advanced chemical synthesis.