Used primarily in organic synthesis, this compound serves as an intermediate in the production of various pharmaceuticals and agrochemicals. Its iodine and nitro groups make it a valuable reagent for coupling reactions and functional group transformations. In research, it is employed to study reaction mechanisms and develop new synthetic pathways. Additionally, it finds application in the preparation of dyes and pigments due to its ability to modify color properties. Its role in creating complex organic molecules highlights its importance in chemical manufacturing and innovation.