Used as a key intermediate in organic synthesis, particularly in the preparation of bioactive molecules and pharmaceuticals. Its iodine functionality allows for further transformations via cross-coupling reactions, such as Suzuki or Stille couplings, enabling the construction of complex organic structures. The ester group can be easily hydrolyzed or reduced, offering versatility in modifying the molecule for use in drug development and functionalized polymers. It is also employed in the synthesis of probes and labeled compounds for biochemical studies due to the presence of the heavy iodine atom, which can aid in detection or serve as a radiolabeling site.