This chemical is primarily utilized in organic synthesis as a versatile intermediate. It is often employed in the development of pharmaceuticals, where its structure allows for further functionalization to create complex molecules. The presence of both fluorine and iodine atoms makes it a valuable reagent in cross-coupling reactions, such as Suzuki or Sonogashira couplings, which are essential in constructing carbon-carbon bonds. Additionally, it is used in the production of agrochemicals, where its unique properties contribute to the synthesis of active ingredients for crop protection. Its application extends to material science, where it serves as a building block for advanced organic materials with specific electronic or optical properties.