Used primarily in organic synthesis, this compound serves as a key intermediate in the preparation of more complex chemical structures. It is particularly valuable in the development of pharmaceuticals, where it contributes to the synthesis of active pharmaceutical ingredients (APIs). Its iodine moiety makes it a useful building block for coupling reactions, such as Suzuki or Sonogashira cross-coupling, which are essential in creating carbon-carbon bonds. Additionally, it finds application in the production of dyes and pigments due to its aromatic amine structure, which can be modified to achieve specific color properties. In research, it is employed in the study of reaction mechanisms and the development of novel organic compounds.