Used as an intermediate in the synthesis of pharmaceuticals and agrochemicals, particularly in the preparation of nitrophenol-based active ingredients. It serves in the development of certain antimicrobial compounds due to the combined effect of nitro and iodo functional groups. Also employed in organic research for halogenation studies and as a building block in cross-coupling reactions, such as Suzuki or Heck reactions, to construct complex aromatic molecules. Its structure allows for selective derivatization, making it valuable in medicinal chemistry for modifying bioactive molecules.