This compound is primarily utilized in organic synthesis as a versatile intermediate for the development of more complex chemical structures. Its functional groups, including the fluoro, iodo, and ester moieties, make it valuable in cross-coupling reactions, such as Suzuki or Sonogashira couplings, which are essential in pharmaceutical and materials research. It is also employed in the synthesis of agrochemicals and active pharmaceutical ingredients (APIs), where its halogenated aromatic structure can be modified to create biologically active molecules. Additionally, it serves as a building block in the preparation of liquid crystals and other advanced materials due to its aromatic and halogen-substituted properties.