This chemical is primarily utilized in organic synthesis as a versatile building block for the construction of complex molecules. Its unique combination of halogen substituents allows for selective functionalization, making it valuable in cross-coupling reactions, such as Suzuki or Sonogashira couplings, to create advanced intermediates for pharmaceuticals and agrochemicals. Additionally, it serves as a precursor in the development of liquid crystals and organic electronic materials due to its ability to modify molecular structures for desired electronic properties. Its reactivity also makes it useful in research settings for studying halogen exchange mechanisms and designing novel organic compounds.