This chemical is primarily utilized in organic synthesis as an intermediate for the production of more complex compounds. Its unique structure, featuring iodine, nitro, and methyl groups, makes it a valuable precursor in the development of pharmaceuticals, agrochemicals, and dyes. Specifically, it is often employed in cross-coupling reactions, such as the Suzuki or Ullmann reactions, to form carbon-carbon or carbon-heteroatom bonds. Additionally, it can serve as a building block in the synthesis of aromatic compounds with specific substitution patterns, which are essential in material science and medicinal chemistry research. Its nitro group also allows for further functionalization, enabling the creation of diverse derivatives for various industrial applications.