Used as an intermediate in the synthesis of pharmaceuticals, particularly in the development of drugs targeting neurological and psychiatric disorders. 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 agrochemical research for designing novel pesticides with improved efficacy and environmental profiles. Its bromo and hydroxy functional groups allow for further chemical modifications through cross-coupling and substitution reactions, making it valuable in medicinal chemistry and drug discovery.