Used primarily in organic synthesis, this compound serves as a key intermediate in the production of pharmaceuticals and agrochemicals. It is particularly valuable in the development of carbazole-based compounds, which exhibit significant biological activity, including antitumor, antimicrobial, and anti-inflammatory properties. Additionally, it plays a role in the creation of organic light-emitting diodes (OLEDs) and other electronic materials due to its ability to enhance charge transport properties. Its iodine atom makes it a useful building block for further functionalization through cross-coupling reactions, enabling the construction of complex molecular architectures.