Used as an intermediate in organic synthesis, particularly in the preparation of pharmaceuticals and fine chemicals. It serves as a building block for the formation of more complex molecules due to the presence of both bromo and hydroxyl functional groups, which are reactive sites for further chemical transformations. Commonly employed in the synthesis of beta-blockers and other biologically active compounds where the benzyloxy group acts as a protecting group for phenolic hydroxyls during multistep reactions. Its versatility makes it valuable in medicinal chemistry and drug development processes.