This compound is primarily utilized in organic synthesis as a versatile intermediate. It is often employed in the preparation of pharmaceuticals, particularly in the development of active pharmaceutical ingredients (APIs) due to its reactive bromomethyl group, which facilitates further functionalization. The compound is also used in the synthesis of complex organic molecules, including ligands for catalysis and materials for research in medicinal chemistry. Its phenylacetic acid moiety makes it valuable in constructing biologically active compounds, such as anti-inflammatory agents or other therapeutic molecules. Additionally, it serves as a building block in the production of fine chemicals and specialty polymers.