Used as an intermediate in organic synthesis, particularly in the pharmaceutical industry for the preparation of active pharmaceutical ingredients (APIs). It serves as a building block in the synthesis of anticoagulants and anti-inflammatory agents due to its reactive bromo and hydroxy functional groups. The compound is also employed in the development of agrochemicals and fine chemicals, where selective substitution reactions are required. Its ketone group allows for further derivatization, such as condensation or reduction, enabling the construction of complex molecular structures.