Used as an intermediate in organic synthesis, particularly in pharmaceutical and agrochemical manufacturing. It serves as a building block in the preparation of complex molecules due to the presence of both ester and iodo functional groups, which allow for further chemical transformations such as cross-coupling reactions. Commonly employed in research settings for the development of new drug candidates and bioactive compounds. Its reactivity makes it valuable in forming carbon-carbon bonds via palladium-catalyzed reactions like Suzuki or Heck couplings.