This compound is primarily utilized in organic synthesis as a versatile building block for constructing complex molecules. Its structure, featuring both bromo and iodo substituents, makes it a valuable intermediate in cross-coupling reactions, such as Suzuki or Sonogashira couplings, which are widely employed in pharmaceutical and agrochemical research. Additionally, the ester group in the molecule allows for further functionalization, enabling the synthesis of various derivatives. Its applications extend to material science, where it can be used to develop organic semiconductors or ligands for catalysis. The presence of halogen atoms also makes it useful in the preparation of heterocyclic compounds, which are essential in drug discovery and development.