Used primarily in organic synthesis, this compound serves as a key intermediate in the production of various pharmaceuticals and agrochemicals. Its unique structure, featuring both fluorine and iodine substituents, makes it valuable for constructing complex molecules, particularly in the development of active pharmaceutical ingredients (APIs). It is also employed in the synthesis of dyes and pigments due to its ability to introduce specific functional groups into organic frameworks. Additionally, its reactivity allows for use in cross-coupling reactions, which are essential in creating advanced materials and fine chemicals.