Used primarily in organic synthesis, this compound serves as a key intermediate in the preparation of more complex molecules. It is particularly valuable in the pharmaceutical industry for the development of drugs, where it acts as a protective group for amines during multi-step reactions. The iodine atom in the molecule facilitates further functionalization through cross-coupling reactions, enabling the creation of diverse chemical structures. Additionally, it is employed in the synthesis of peptides and other bioactive compounds, where its stability and reactivity make it a preferred choice.