This chemical is primarily utilized in organic synthesis as a key intermediate for the development of complex molecules. Its structure, featuring both a bromo and ester functional group, makes it a versatile building block in the synthesis of pharmaceuticals and agrochemicals. It is often employed in cross-coupling reactions, such as Suzuki or Heck reactions, to create more elaborate compounds. Additionally, its indene core is valuable in the design of materials with specific electronic or optical properties, making it useful in the field of material science. Researchers also explore its potential in the synthesis of bioactive compounds, particularly in the development of anti-inflammatory or anticancer agents.