Used primarily in organic synthesis as a building block for more complex molecules. It serves as an intermediate in the production of pharmaceuticals, particularly in the development of compounds with potential therapeutic properties. Additionally, it is employed in materials science for the creation of organic electronic materials, such as those used in light-emitting diodes (LEDs) and semiconductors. Its iodine atom makes it a useful precursor in cross-coupling reactions, which are crucial in the formation of carbon-carbon bonds in advanced chemical synthesis.