This chemical is primarily utilized in organic synthesis as a key intermediate for the preparation of more complex molecules. Its structure, featuring both benzyl and ethoxy groups along with an iodine substituent, makes it valuable in cross-coupling reactions, such as Suzuki or Sonogashira couplings, which are essential in pharmaceutical and materials science research. Additionally, the aldehyde group allows for further functionalization, enabling the creation of diverse derivatives used in drug discovery and development. Its applications also extend to the synthesis of liquid crystals and advanced organic materials due to its versatile reactivity and structural properties.