Used as an intermediate in the synthesis of pharmaceuticals and agrochemicals, particularly in the preparation of substituted anilines and heterocyclic compounds. Its nitro and iodo functional groups allow for selective transformations via reduction, coupling reactions, or nucleophilic substitutions. Commonly employed in research settings for constructing complex organic molecules where controlled reactivity is required. Also finds use in the development of dyes and functional materials due to its electron-withdrawing and leaving group properties.