This chemical is primarily used as a versatile intermediate in organic synthesis, particularly in the preparation of complex aromatic compounds. Its reactive trifluoromethanesulfonate (triflate) groups make it a valuable building block for coupling reactions, such as Suzuki, Heck, and Sonogashira reactions, which are essential in the development of pharmaceuticals, agrochemicals, and advanced materials. Additionally, the iodine substituent allows for further functionalization, enabling the creation of diverse molecular structures. Its stability and reactivity under mild conditions make it a preferred choice in research and industrial applications for synthesizing specialized organic molecules.