Used as an intermediate in the synthesis of pharmaceuticals, particularly in the production of nonsteroidal anti-inflammatory drugs (NSAIDs) and related compounds. Its structure allows for bromine-directed functionalization, making it valuable in coupling reactions during drug development. Also employed in the preparation of photochromic materials due to its ability to undergo light-induced transformations. Commonly utilized in organic synthesis for building complex aromatic systems through palladium-catalyzed cross-coupling reactions.