Used primarily in organic synthesis, this compound serves as a key intermediate in the production of various pharmaceuticals and agrochemicals. Its structure is particularly valuable in the development of indane-based compounds, which are often explored for their potential biological activities. Additionally, it is utilized in research settings for the study of chemical reactions and mechanisms involving indanone derivatives. Its bromine atom makes it a suitable candidate for further functionalization through cross-coupling reactions, enabling the creation of more complex molecules.