This chemical is primarily utilized in organic synthesis as a versatile building block for the development of more complex molecules. It is often employed in the preparation of pharmaceuticals, particularly in the synthesis of compounds with potential therapeutic properties. The presence of both fluorine and iodine atoms makes it valuable in cross-coupling reactions, such as Suzuki or Sonogashira reactions, which are essential in creating biologically active compounds. Additionally, it serves as a key intermediate in the production of agrochemicals and specialty chemicals, where its unique structure allows for the introduction of specific functional groups. Its application extends to materials science, where it is used in the design of advanced organic materials with tailored properties.