Used in organic synthesis as a building block for more complex molecules, particularly in the development of pharmaceuticals and agrochemicals. It serves as a precursor in the production of compounds with potential biological activity, such as antimicrobial or anti-inflammatory agents. Additionally, it is employed in research for studying the properties and reactivity of iodinated aromatic compounds, which are valuable in materials science and medicinal chemistry. Its iodine atom makes it useful in radiolabeling applications for tracking and imaging in biochemical studies.