Used as an intermediate in the synthesis of pharmaceuticals and contrast agents, particularly in the development of X-ray imaging compounds. Its iodine content makes it valuable in radiopaque agents due to iodine's high X-ray absorption. Also employed in organic synthesis for constructing complex aromatic structures through halogen displacement or coupling reactions. Shows potential in research related to thyroid hormone analogs owing to structural similarity with iodothyronines. Additionally, utilized in the preparation of functionalized benzoic acid derivatives for material science and medicinal chemistry applications.