Used in organic synthesis as an intermediate for pharmaceuticals and agrochemicals. The iodine substituent allows for cross-coupling reactions, such as Suzuki or Heck reactions, enabling the construction of complex aromatic systems. The ester group can be hydrolyzed to the corresponding carboxylic acid or reduced to an alcohol, offering versatility in functional group transformations. Commonly employed in the development of bioactive molecules where substituted aromatic rings are required.