This compound is primarily utilized in organic synthesis as a key intermediate for the development of more complex chemical structures. Its unique bromine and methoxy functional groups make it a valuable building block in the synthesis of pharmaceuticals, particularly in the creation of compounds with potential biological activity. Researchers often employ it in the preparation of indenone derivatives, which are explored for their therapeutic properties, including anti-inflammatory, anticancer, and antimicrobial effects. Additionally, it is used in materials science to develop novel organic materials with specific electronic or optical properties. Its versatility in chemical reactions, such as cross-coupling and substitution, makes it a useful reagent in various research and industrial applications.