This compound is primarily utilized in organic synthesis as a key intermediate in the production of more complex molecules, particularly in pharmaceutical research. Its structure, featuring both fluoro and iodo substituents, makes it valuable for constructing drug candidates, especially those targeting neurological disorders or cancer. The ester groups in the molecule provide versatility for further chemical modifications, enabling the creation of diverse derivatives with potential therapeutic applications. Additionally, its use in cross-coupling reactions, such as Suzuki or Sonogashira couplings, is notable for developing advanced materials or bioactive compounds.