Used as an intermediate in the synthesis of pharmaceuticals and agrochemicals, particularly in the development of fluorinated organic compounds where the presence of fluorine enhances metabolic stability and bioavailability. Its iodine functionality allows for further coupling reactions, such as Suzuki or Heck reactions, enabling the construction of complex aromatic systems. Commonly employed in medicinal chemistry for structure-activity relationship studies due to the combined electronic effects of fluorine and iodine substituents. Also utilized in materials science for the preparation of functionalized aromatic compounds in organic electronics.