Used as a key intermediate in the synthesis of pharmaceuticals and agrochemicals, particularly in the development of fluorinated compounds with enhanced biological activity. Its halogenated structure allows for selective cross-coupling reactions, making it valuable in medicinal chemistry for constructing complex molecules. Commonly employed in the preparation of kinase inhibitors and other bioactive agents where the trifluoromethyl and iodo groups facilitate further functionalization. Also utilized in materials science for designing organic semiconductors and liquid crystals due to its electron-withdrawing properties and structural stability.