Used primarily as a reactive intermediate in organic synthesis, this compound serves in the preparation of substituted cyclooctatetraene derivatives, which are valuable in coordination chemistry and materials science. Its bromine functionality allows for cross-coupling reactions, enabling the construction of complex aromatic and conjugated systems. It is also employed in the study of antiaromatic systems due to the inherent electronic properties of the cyclooctatetraene ring, aiding in the development of novel organic electronic materials and ligands for metal complexes.