Used primarily as an intermediate in organic synthesis, this compound serves in the preparation of pharmaceuticals and functionalized aromatic derivatives. Its iodine functionality allows for cross-coupling reactions, such as Suzuki or Heck reactions, enabling the construction of complex molecules. The amide group provides a site for further modification or conjugation, making it valuable in medicinal chemistry for developing bioactive compounds. It may also be employed in the study of electron transfer processes due to the presence of the aromatic iodide moiety.