This compound is primarily utilized in organic synthesis as an intermediate for the development of more complex molecules. It is particularly valuable in pharmaceutical research, where it serves as a building block for the synthesis of potential drug candidates. The presence of the iodophenyl group makes it a useful precursor in cross-coupling reactions, such as Suzuki or Sonogashira couplings, which are essential for creating carbon-carbon bonds in medicinal chemistry. Additionally, its tert-butyl ester group provides stability and can be deprotected to reveal a free amine, enabling further functionalization. This chemical is often employed in the design and synthesis of compounds targeting neurological disorders or other therapeutic areas.