This compound is primarily utilized in the field of organic synthesis, where it serves as a key intermediate in the production of more complex molecules. Its structure, featuring both a benzyloxy group and a bromine atom, makes it particularly valuable for further functionalization through various chemical reactions, such as coupling reactions or substitutions. It is often employed in the development of pharmaceutical compounds, where its phenylacetic acid moiety can be modified to create drugs with potential anti-inflammatory or analgesic properties. Additionally, its reactivity allows it to be used in the synthesis of fine chemicals and agrochemicals, contributing to the creation of novel compounds with specific biological activities.