This compound is primarily utilized in organic synthesis as an intermediate for the preparation of more complex chemical structures. It is often employed in the development of pharmaceuticals, particularly in the synthesis of active pharmaceutical ingredients (APIs) that target specific biological pathways. Its unique structure, featuring benzyloxy, ethoxy, and iodo substituents, makes it valuable for cross-coupling reactions, such as Suzuki or Sonogashira couplings, which are essential in constructing diverse organic molecules. Additionally, it can serve as a precursor in the synthesis of dyes, agrochemicals, or materials with specialized optical properties. Its ester group also allows for further functionalization, making it versatile in medicinal chemistry and material science research.