This chemical is primarily used in organic synthesis as a key intermediate for the production of more complex compounds. It is particularly valuable in the development of liquid crystals, which are essential components in display technologies such as LCD screens. Additionally, it serves as a building block in the synthesis of pharmaceuticals, where its structure can be modified to create active ingredients for various medications. Its iodine atoms make it useful in cross-coupling reactions, which are crucial for forming carbon-carbon bonds in advanced chemical processes. Furthermore, it finds application in materials science for creating polymers and other functional materials with specific optical or electronic properties.