This compound is primarily used in organic synthesis and pharmaceutical research. It serves as a key intermediate in the development of various bioactive molecules, particularly those targeting specific enzymes or receptors. Its structure, featuring a chloro, iodo, and methoxy substituent, makes it valuable for constructing complex molecules with potential therapeutic applications, such as anti-inflammatory or anticancer agents. Additionally, it is utilized in the synthesis of heterocyclic compounds, which are essential in drug discovery and material science. Its ester group also allows for further functionalization, enabling the creation of diverse chemical entities for research and industrial purposes.