Used as an intermediate in the synthesis of pharmaceuticals and agrochemicals. It serves in the preparation of more complex organic molecules where the bromo and hydroxyl functional groups allow for further chemical modifications. Commonly employed in coupling reactions, such as Suzuki or Ullmann reactions, to build biaryl structures. Also utilized in the development of specialty chemicals including dyes, antioxidants, and UV stabilizers. Its reactivity profile makes it valuable in research laboratories for constructing novel compounds in medicinal chemistry.