This chemical is primarily utilized in organic synthesis as a versatile intermediate. It is commonly employed in the preparation of various pharmaceuticals, agrochemicals, and fine chemicals. Its reactive bromine and hydroxyl groups make it a valuable building block for constructing complex molecules. Additionally, it is used in the development of chiral compounds and as a precursor in the synthesis of biologically active substances. Its applications also extend to research and development in medicinal chemistry, where it aids in the creation of novel drug candidates.