Used primarily in organic synthesis, it serves as an intermediate in the production of various pharmaceuticals and agrochemicals. Its iodine atom makes it a valuable building block for cross-coupling reactions, such as Suzuki or Heck reactions, which are essential in creating complex organic molecules. Additionally, it is employed in the development of bioactive compounds, including potential drug candidates targeting neurological and metabolic disorders. Its role in research extends to the study of molecular interactions and the design of novel therapeutic agents.