This chemical is primarily used in organic synthesis as a building block for more complex molecules. It serves as an intermediate in the production of pharmaceuticals, particularly in the development of compounds with potential therapeutic properties. Its iodine and amino groups make it a versatile precursor for coupling reactions, such as Suzuki or Sonogashira reactions, which are essential in creating biologically active compounds. Additionally, it is utilized in the synthesis of dyes and agrochemicals, where its structure contributes to the formation of specialized products. Its ester group also allows for further functionalization, making it valuable in research and industrial applications.