Used as an intermediate in the synthesis of agrochemicals and pharmaceuticals, particularly in the production of certain herbicides and dyes. Its structure allows for further functionalization through substitution or reduction reactions, making it valuable in organic synthesis. Commonly employed in the preparation of substituted aromatic compounds where the iodo group acts as a leaving group in coupling reactions such as Suzuki or Heck reactions. Also utilized in research settings for the development of nitro-containing bioactive molecules.