Used primarily in organic synthesis as a versatile intermediate for constructing complex chemical structures. It is particularly valuable in the pharmaceutical industry for the development of active pharmaceutical ingredients (APIs), where its halogenated aromatic structure allows for further functionalization. Additionally, it serves as a key building block in agrochemical research for creating pesticides and herbicides. Its unique combination of chlorine and iodine atoms makes it useful in cross-coupling reactions, such as Suzuki and Sonogashira reactions, which are essential for forming carbon-carbon bonds in organic chemistry.