Used as a key intermediate in the synthesis of pharmaceuticals and agrochemicals, particularly in the development of fluorinated organic compounds. Its structure allows for selective functionalization in cross-coupling reactions, making it valuable in medicinal chemistry for building complex aromatic systems. The presence of both iodine and fluorine atoms enables sequential reactions—iodine serves as a handle for palladium-catalyzed couplings (e.g., Suzuki or Heck reactions), while the fluorine atoms contribute to metabolic stability and bioavailability in target molecules. Commonly employed in research settings for designing fluorinated analogs of biologically active compounds.