Used primarily in organic synthesis, it serves as a key intermediate in the production of pharmaceuticals and agrochemicals. Its structure facilitates the creation of complex molecules, particularly in the development of compounds with potential therapeutic properties. Additionally, it is employed in material science for the synthesis of advanced polymers and liquid crystals, which are essential in electronic displays and optical devices. The compound's iodine atoms make it a valuable building block in cross-coupling reactions, enabling the formation of carbon-carbon bonds in various industrial applications.