Used as an intermediate in the synthesis of pharmaceuticals and agrochemicals, particularly in the development of iodinated compounds with biological activity. Its structure allows for further functionalization, making it valuable in organic synthesis for introducing both iodo and nitro groups into larger molecules. Commonly employed in the preparation of contrast agents for medical imaging due to the presence of iodine, which enhances X-ray absorption. Also utilized in research settings for the development of novel bioactive compounds and in the production of specialty chemicals requiring halogenated aromatic building blocks.