Used as an intermediate in the synthesis of pharmaceuticals and agrochemicals, particularly in the development of fluorinated and chlorinated aromatic compounds. Its functional groups allow for selective cross-coupling reactions, making it valuable in medicinal chemistry for building complex molecules. Commonly employed in Suzuki and Ullmann-type reactions to construct biaryl structures with enhanced metabolic stability. Also utilized in the preparation of radiolabeled compounds for imaging studies due to the presence of iodine, enabling applications in PET or SPECT diagnostics.