Used as a key intermediate in the synthesis of pharmaceuticals and agrochemicals due to the presence of both bromo and iodo functional groups, which are highly reactive in cross-coupling reactions such as Suzuki and Heck reactions. Its ester group allows for further derivatization, making it valuable in constructing complex organic molecules. Commonly employed in the development of active ingredients in crop protection agents and in the preparation of substituted aromatic compounds for medicinal chemistry research.