This compound is primarily utilized in the field of organic synthesis, where it serves as a key intermediate in the production of various pharmaceuticals and agrochemicals. Its unique structure, featuring both fluorine and iodine substituents, makes it highly reactive and suitable for cross-coupling reactions, such as Suzuki or Sonogashira couplings, which are essential for creating complex molecules. Additionally, it is often employed in the development of biologically active compounds, particularly in the synthesis of potential drug candidates targeting specific enzymes or receptors. The presence of the methyl group and halogen atoms also enhances its utility in the design of molecules with improved stability and binding affinity.