This compound is primarily utilized in organic synthesis as a building block for more complex molecules. It serves as a key intermediate in the preparation of pharmaceuticals, particularly in the development of iodinated compounds used in medical imaging and diagnostics. Its high iodine content makes it valuable for creating contrast agents in X-ray and CT imaging, enhancing the visibility of internal structures. Additionally, it is employed in the synthesis of agrochemicals and specialty chemicals, where its unique structure contributes to the development of active ingredients for crop protection. Its reactivity and stability under various conditions make it a versatile reagent in research and industrial applications.