Used primarily as an intermediate in organic synthesis, especially in the preparation of pharmaceuticals and agrochemicals. Its halogen substituents allow for selective cross-coupling reactions, making it valuable in building complex aromatic structures. Commonly employed in Suzuki and Heck reactions to introduce functionalized aromatic rings into target molecules. Also utilized in the development of radiopharmaceuticals due to the presence of iodine, which can be substituted with radioactive isotopes for imaging or therapeutic applications. Its carboxylic acid group enables easy derivatization into esters, amides, or peptides, expanding its utility in medicinal chemistry.