This compound is primarily utilized in organic synthesis as a versatile intermediate. It serves as a key building block in the preparation of more complex molecules, particularly in pharmaceutical research. Its structure, featuring both an amino group and an iodine atom, makes it suitable for cross-coupling reactions, such as Suzuki or Sonogashira couplings, which are essential in creating biologically active compounds. Additionally, it is employed in the development of dyes, pigments, and other specialty chemicals due to its aromatic and reactive properties. Its ester group also allows for further functionalization, making it valuable in designing tailored organic materials.