This chemical is primarily utilized in organic synthesis as a key intermediate for the development of various pharmaceuticals and biologically active compounds. Its structure, featuring an iodine atom and a dihydrobenzofuran ring, makes it a valuable building block in medicinal chemistry. It is often employed in the synthesis of complex molecules, particularly those targeting neurological disorders, due to its ability to interact with specific receptors or enzymes in the brain. Additionally, it serves as a precursor in the preparation of radiolabeled compounds for imaging and diagnostic purposes in medical research. Its versatility also extends to material science, where it can be used to create specialized polymers or organic materials with unique properties.