Used primarily as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of selective serotonin reuptake inhibitors (SSRIs) and other central nervous system agents. Its structure allows for selective functionalization, making it valuable in constructing complex drug molecules. It is also employed in the preparation of agrochemicals and bioactive compounds where fluorinated aromatic rings enhance metabolic stability and binding affinity. The bromo and hydroxyl groups serve as reactive sites for cross-coupling reactions, enabling its incorporation into larger molecular frameworks through methods like Suzuki or Ullmann couplings.