Used in organic synthesis as an intermediate for pharmaceuticals and functional materials. The aldehyde and ester groups allow for selective reactions, such as Wittig or aldol condensations, enabling the construction of complex molecules. The iodine atom facilitates cross-coupling reactions like Suzuki or Heck couplings, making it valuable in the development of bioactive compounds and conjugated systems for electronic materials. Commonly employed in medicinal chemistry for building blocks in drug discovery.