This compound is primarily utilized in organic synthesis as a versatile intermediate for the development of more complex chemical structures. It is particularly valuable in the pharmaceutical industry, where it serves as a building block for the synthesis of potential drug candidates. Its structure, featuring both an iodo group and a carboxylate ester, allows for further functionalization through various chemical reactions, such as cross-coupling reactions, which are essential in creating biologically active molecules. Additionally, it may be used in research settings to explore new therapeutic agents targeting specific biological pathways, particularly in the development of compounds with potential anti-inflammatory, antimicrobial, or anticancer properties.