Used primarily in organic synthesis, this compound serves as a key intermediate in the production of various pharmaceuticals and agrochemicals. Its structure, featuring both an amino group and an iodine atom, makes it valuable for constructing complex molecules through cross-coupling reactions, such as Suzuki or Ullmann reactions. It is also employed in the development of dyes and pigments due to its ability to form stable aromatic systems. Additionally, its nitrile group can be further functionalized, enabling its use in the synthesis of heterocyclic compounds, which are important in medicinal chemistry.