This compound is primarily utilized in organic synthesis as an intermediate for the development of more complex chemical structures. Its functional groups make it a valuable precursor in the synthesis of pharmaceuticals, particularly in the creation of active pharmaceutical ingredients (APIs) that require brominated aromatic compounds. It is also employed in the preparation of agrochemicals, where its structure can be modified to produce herbicides or pesticides with specific target activities. Additionally, its benzyloxy group allows for further chemical transformations, making it useful in research and development for designing novel compounds with potential biological activities.