Used primarily in organic synthesis, this compound serves as a key intermediate in the production of pharmaceuticals and agrochemicals. It is particularly valuable in the development of complex molecules due to its reactive aldehyde and hydroxyl groups, which allow for versatile chemical modifications. Additionally, it plays a role in the synthesis of nicotinic acid derivatives, which are important in medicinal chemistry for creating drugs targeting various diseases. Its bromine atom further enhances its utility in cross-coupling reactions, enabling the construction of diverse chemical structures.