Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of drugs targeting central nervous system disorders and inflammation. It serves as a building block in the preparation of selective kinase inhibitors and receptor modulators due to its ability to form stable heterocyclic structures. Also employed in agrochemicals for the creation of herbicides and pesticides, where the bromo and hydroxy functional groups allow for further chemical modifications. Its reactivity makes it valuable in cross-coupling reactions, enabling the formation of carbon-carbon and carbon-heteroatom bonds in advanced organic synthesis.