This chemical is primarily utilized in pharmaceutical research and development, particularly in the synthesis of novel drug compounds. Its unique structure makes it a valuable intermediate in the creation of molecules targeting various biological pathways, including those involved in cancer and neurological disorders. Researchers often employ it to develop inhibitors or modulators of specific enzymes or receptors, leveraging its bromo and hydroxyl functional groups for further chemical modifications. Additionally, it finds use in organic synthesis for constructing complex heterocyclic frameworks, which are essential in medicinal chemistry for designing bioactive molecules.