Used primarily in organic synthesis, this compound serves as a versatile intermediate in the production of more complex chemical structures. It is particularly valuable in the pharmaceutical industry for the development of active pharmaceutical ingredients (APIs), where its difluoromethoxy and iodo groups can be leveraged to create molecules with specific biological activities. Additionally, it finds application in material science, aiding in the synthesis of advanced materials with unique properties. Its reactivity and functional groups make it a key component in cross-coupling reactions, which are crucial for constructing carbon-carbon bonds in synthetic chemistry.