Used as an intermediate in the synthesis of pharmaceuticals, particularly in the development of drugs targeting central nervous system disorders. It serves as a building block in the preparation of selective kinase inhibitors and receptor modulators. Commonly employed in agrochemical research for creating novel pesticides and herbicides due to its ability to enhance bioactivity. Also utilized in the formation of fluorescent probes and dyes, benefiting analytical and imaging applications in research. Its bromo and hydroxy functional groups allow for easy modification through cross-coupling and substitution reactions, making it valuable in medicinal chemistry and drug discovery.