This chemical is primarily utilized in the field of medicinal chemistry for the development of novel therapeutic agents. Its unique structure makes it a valuable intermediate in the synthesis of compounds targeting neurological disorders, particularly those related to serotonin and dopamine pathways. Researchers are exploring its potential in creating drugs for conditions such as depression, anxiety, and neurodegenerative diseases like Parkinson's. Additionally, its bromo and hydroxy functional groups allow for further chemical modifications, enabling the creation of diverse derivatives with enhanced pharmacological properties. Its application in organic synthesis also extends to the study of chromene-based compounds, which are known for their biological activities, including anti-inflammatory and anticancer effects.