This compound is primarily utilized in pharmaceutical research and development, particularly in the synthesis of bioactive molecules. It serves as a key intermediate in the production of drugs targeting neurological disorders, such as antidepressants and antipsychotics, due to its structural similarity to compounds that interact with serotonin and dopamine receptors. Additionally, it is explored in the creation of chiral catalysts for asymmetric synthesis, enhancing the efficiency of producing enantiomerically pure substances. Its bromine moiety also makes it a valuable building block in organic synthesis for further functionalization and derivatization in medicinal chemistry.