This compound is primarily utilized in organic synthesis as a versatile building block for the preparation of more complex molecules. Its structure, featuring both a fluoro and an iodo substituent, makes it particularly valuable in cross-coupling reactions, such as Suzuki or Sonogashira couplings, which are essential in pharmaceutical and material science research. Additionally, the presence of the ethanone group allows for further functionalization, making it a useful intermediate in the synthesis of heterocyclic compounds, which are often explored for their potential biological activities. Its applications extend to the development of agrochemicals and dyes, where its unique reactivity can be leveraged to create targeted products.