This compound is primarily utilized in organic synthesis as a key intermediate for the preparation of various pharmaceuticals and biologically active molecules. Its structure, featuring an iodophenyl group and a keto-ester moiety, makes it a versatile building block for constructing complex organic frameworks. It is often employed in cross-coupling reactions, such as Suzuki or Heck reactions, to introduce the iodophenyl group into target molecules. Additionally, it serves as a precursor in the synthesis of heterocyclic compounds, which are important in drug discovery and development. Its applications extend to material science, where it can be used to develop functionalized polymers or organic electronic materials.