Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of active ingredients for anti-inflammatory and analgesic drugs. Its bromo and hydroxyl functional groups allow for selective modifications, making it valuable in constructing complex organic molecules. Commonly employed in cross-coupling reactions such as Suzuki or Heck reactions to build biaryl structures. Also utilized in the preparation of agrochemicals and specialty polymers where controlled substitution patterns are required. Its stability and reactivity profile make it suitable for multi-step synthetic routes in research and industrial settings.