Used as a key intermediate in organic synthesis, particularly in the production of pharmaceuticals and agrochemicals. It is often employed in the formation of benzyl ethers or esters, which are crucial in developing active compounds for medicinal purposes. Additionally, it serves as a building block in the creation of complex molecules for research and industrial applications, especially in the development of new drugs targeting specific biological pathways. Its fluorine and bromine substituents make it a versatile reagent for introducing functional groups into organic frameworks.