Used primarily as an intermediate in organic synthesis, especially in the pharmaceutical and agrochemical industries. Its structure contains both iodine and nitro functional groups, making it suitable for cross-coupling reactions such as Suzuki or Heck reactions, where the iodide acts as a leaving group. The nitro group can be reduced to an amine, enabling further derivatization into heterocycles or bioactive molecules. The alcohol functionality allows for esterification or ether formation, facilitating incorporation into more complex molecular architectures. Commonly employed in the development of specialty chemicals and active pharmaceutical ingredients (APIs) requiring selective functional group transformations.