Used primarily in organic synthesis, this compound serves as a versatile intermediate in the production of pharmaceuticals and agrochemicals. Its unique structure, featuring both fluorine and iodine substituents, makes it valuable for creating complex molecules with specific biological activities. It is often employed in cross-coupling reactions, such as Suzuki or Sonogashira couplings, to build more elaborate chemical frameworks. Additionally, its halogenated aromatic ring is useful in the development of materials for electronic applications, including organic semiconductors and liquid crystals.