This chemical is primarily utilized in organic synthesis, particularly as a building block for the development of more complex molecules. It is often employed in the pharmaceutical industry for the synthesis of active pharmaceutical ingredients (APIs) and intermediates. Additionally, it serves as a key reagent in the preparation of thiazole derivatives, which are important in medicinal chemistry due to their biological activity. Its bromo and hydroxyl functional groups make it a versatile compound for further chemical modifications, enabling the creation of diverse structures for research and industrial applications.