This compound is primarily utilized in organic synthesis as a versatile intermediate for constructing more complex molecules. Its structure, featuring both fluorine and iodine substituents, makes it valuable in cross-coupling reactions, such as Suzuki or Sonogashira couplings, to create aromatic compounds with specific functional groups. It is also employed in pharmaceutical research for developing drug candidates, particularly in the modification of aromatic rings to enhance biological activity or optimize pharmacokinetic properties. Additionally, its halogenated aromatic core is useful in material science for synthesizing advanced polymers or organic electronic materials.