This chemical is primarily utilized in organic synthesis and pharmaceutical research. It serves as a key intermediate in the development of various bioactive compounds, particularly those targeting neurological and cardiovascular disorders. Its structure, featuring an iodophenyl group, makes it valuable in cross-coupling reactions, such as Suzuki and Sonogashira reactions, which are essential for constructing complex molecules. Additionally, it is explored in the synthesis of potential therapeutic agents, including inhibitors for enzymes involved in disease pathways. Its application extends to material science, where it is used in the preparation of organic semiconductors and optoelectronic materials due to its conjugated system and electronic properties.