Used primarily as an intermediate in organic synthesis, particularly in the preparation of heterocyclic compounds and pharmaceuticals. Its reactivity allows for facile alkylation and cyclization reactions, making it valuable in constructing complex molecular frameworks. Commonly employed in the development of bioactive molecules, including potential drug candidates, due to the presence of both iodide leaving group and ester functionality. Also utilized in research settings for chain extension and functional group transformations in multi-step syntheses.