Primarily used in organic synthesis, this compound serves as a versatile intermediate for the preparation of various heterocyclic compounds. It is particularly valuable in the development of fluorescent dyes and probes due to its nitro and bromo functional groups, which facilitate further chemical modifications. Its application extends to the field of biochemistry, where it is employed in the design of molecular sensors that detect specific biological molecules. Additionally, it is utilized in material science for the creation of advanced materials with unique optical properties. The compound's reactivity also makes it a key component in the synthesis of pharmaceuticals, contributing to the development of new drugs with potential therapeutic applications.