Used in organic synthesis as a building block for more complex molecules, particularly in pharmaceuticals and agrochemicals. It serves as an intermediate in the production of compounds with potential therapeutic properties, such as anti-inflammatory or anti-cancer agents. The iodine atom in its structure makes it valuable for radiolabeling applications in medical imaging and research. Additionally, it can be utilized in the development of liquid crystals and advanced materials due to its aromatic and carboxylic acid functional groups.