Used in organic synthesis as a building block for creating more complex molecules. It serves as a key intermediate in the production of specialty chemicals, particularly in the development of pharmaceuticals and agrochemicals. Its iodine and alkene functional groups make it valuable for cross-coupling reactions, enabling the formation of carbon-carbon bonds. Additionally, it is utilized in material science for modifying polymers and creating functionalized surfaces. Its role in research includes studying reaction mechanisms and developing new catalytic processes.