Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of antiviral and anticancer agents. Its structure allows for easy functionalization, making it valuable in medicinal chemistry for building bioactive molecules. It is also employed in the preparation of agrochemicals and corrosion inhibitors. Due to the presence of both bromine and acidic functional groups, it participates in coupling reactions and metal-catalyzed transformations, useful in heterocyclic compound synthesis.