Used as an intermediate in organic synthesis, particularly in cross-coupling reactions such as Suzuki-Miyaura and Heck reactions, to construct biaryl and styrene derivatives. Its iodine functionality allows for efficient metal-catalyzed bond formation, while the benzyloxy group acts as a protecting group for phenols, enabling selective transformations in multi-step synthesis of pharmaceuticals and fine chemicals. Commonly employed in the development of ligands, functional materials, and bioactive molecules.