Used as an intermediate in organic synthesis, particularly in pharmaceutical and agrochemical manufacturing. It serves as a building block in the preparation of more complex molecules due to the presence of both ester and iodinated aromatic functionalities. The iodine atom allows for further functionalization via cross-coupling reactions such as Suzuki or Heck reactions, making it valuable in the development of specialty chemicals and active ingredients in medicinal chemistry. Also employed in research settings for the synthesis of benzyl-protected derivatives and photoactive compounds.