This compound is primarily utilized in organic synthesis as a versatile intermediate for the production of various pharmaceuticals and agrochemicals. Its structure allows for further functionalization, making it valuable in the development of complex molecules. It is often employed in the synthesis of indene-based compounds, which are known for their biological activity. Additionally, it serves as a key building block in the creation of ligands for catalysis, particularly in asymmetric synthesis. Its bromine atom provides a reactive site for cross-coupling reactions, enabling the construction of diverse chemical architectures.