Used as an intermediate in organic synthesis, particularly in the preparation of psychedelic phenethylamines and related compounds. It serves as a building block in the synthesis of substituted amphetamines and hallucinogens, such as the 2C family of drugs. Due to its role in controlled substance production, its use is primarily restricted to research and forensic contexts. Also employed in the development of radiolabeled compounds for imaging studies, taking advantage of the iodine atoms for labeling purposes.