Used in organic synthesis as an intermediate for pharmaceuticals and agrochemicals. Serves as a building block in the preparation of metal-organic frameworks (MOFs) due to its ability to chelate metal ions. Employed in medicinal chemistry for the development of bioactive compounds, particularly in iodine-containing derivatives that may exhibit antimicrobial or anticancer properties. Also utilized in catalysis research, especially in palladium-catalyzed cross-coupling reactions where the iodine moiety acts as a reactive site.