This compound is primarily utilized in pharmaceutical research and development, particularly in the synthesis of novel drug candidates. It serves as a key intermediate in the creation of quinazoline derivatives, which are known for their potential therapeutic applications. These derivatives are often explored for their anticancer, antimicrobial, and anti-inflammatory properties. Additionally, it is used in organic chemistry studies to investigate reaction mechanisms and develop new synthetic pathways. Its bromo and hydroxyl groups make it a versatile building block for constructing complex molecules with potential biological activity.