Used primarily in organic synthesis as a building block for more complex molecules. It is particularly valuable in the preparation of fluorinated and iodinated compounds, which are often used in pharmaceuticals and agrochemicals. The presence of both fluorine and iodine atoms allows for versatile chemical transformations, such as nucleophilic substitutions and coupling reactions. It is also employed in the development of radiopharmaceuticals for medical imaging, where iodine isotopes are used as radioactive tracers. Additionally, it serves as a reagent in the study of reaction mechanisms involving halogenated hydrocarbons.