Used primarily as an intermediate in organic synthesis, particularly in the production of pharmaceuticals and agrochemicals. Its unique structure, featuring iodo, nitro, and trifluoromethyl groups, makes it valuable for introducing these functional groups into more complex molecules. It is also employed in the development of dyes and pigments due to its ability to modify color properties. Additionally, it serves as a reagent in cross-coupling reactions, which are essential for creating carbon-carbon bonds in advanced chemical processes.