This compound is primarily utilized in organic synthesis as a building block for more complex molecules. Its structure, featuring both fluorine and iodine substituents, makes it a valuable intermediate in the development of pharmaceuticals and agrochemicals. The presence of the iodine atom allows for further functionalization through cross-coupling reactions, such as Suzuki or Sonogashira couplings, which are pivotal in creating biologically active compounds. Additionally, the ester group provides a reactive site for hydrolysis or transesterification, enabling the synthesis of various carboxylic acid derivatives or other ester-containing compounds. Its applications are particularly significant in medicinal chemistry, where it can be used to design and synthesize drug candidates with specific target interactions.