Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of central nervous system (CNS) active agents. Its structure allows for selective functionalization, making it valuable in constructing complex molecules for drug discovery. Commonly employed in the preparation of serotonin and dopamine receptor modulators. Also utilized in agrochemical research for designing bioactive molecules with enhanced stability and specificity. The bromo and hydroxyl groups enable cross-coupling reactions and further derivatization, supporting its role in building blocks for advanced organic synthesis.