Used primarily in organic synthesis, this compound serves as a key intermediate in the production of pharmaceuticals and agrochemicals. Its structure, featuring both fluorine and iodine atoms, makes it valuable for constructing complex molecules, particularly in the development of active pharmaceutical ingredients (APIs). It is often employed in cross-coupling reactions, such as Suzuki or Sonogashira couplings, to create biologically active compounds. Additionally, its unique halogenated aromatic structure is useful in material science for designing advanced polymers or electronic materials.