Used primarily in organic synthesis, this compound serves as a versatile intermediate in the production of pharmaceuticals and agrochemicals. Its amino and cyano groups make it a valuable building block for constructing complex molecules, particularly in the development of drugs targeting various diseases. Additionally, the iodine atom allows for further functionalization through cross-coupling reactions, enabling the creation of diverse chemical structures. It is also employed in research for designing fluorescent probes and imaging agents due to its unique electronic properties.