This chemical is primarily utilized in organic synthesis as a building block for more complex molecules. It serves as a key intermediate in the production of pharmaceuticals, particularly in the development of drugs targeting neurological disorders and infections. Its bromine and hydroxyl groups make it a versatile reagent for coupling reactions, enabling the creation of various heterocyclic compounds. Additionally, it is employed in agrochemical research for synthesizing compounds with potential pesticidal or herbicidal properties. Its stability and reactivity also make it suitable for use in material science, particularly in the development of organic electronic materials.