This compound is primarily utilized in organic synthesis as an intermediate for the preparation of more complex molecules. Its structure, featuring a benzyloxy group, hydroxyl group, iodo substituent, and ester functionality, makes it a versatile building block in medicinal chemistry and pharmaceutical research. It is often employed in the development of drug candidates, particularly in the synthesis of compounds with potential biological activity. The iodo group allows for further functionalization through cross-coupling reactions, while the ester can be hydrolyzed to yield carboxylic acids for additional modifications. Its applications extend to the study of biochemical pathways and the design of enzyme inhibitors.