Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of nonsteroidal anti-inflammatory drugs (NSAIDs) and other bioactive molecules. Its structure allows for further functionalization, making it valuable in constructing complex organic compounds. Commonly employed in cross-coupling reactions, such as Suzuki or Heck reactions, due to the presence of the iodine moiety. The cyano and carboxylic acid groups provide additional sites for chemical modification, enabling its use in heterocycle formation and medicinal chemistry research.