Used as an intermediate in the synthesis of pharmaceuticals and agrochemicals. It serves in the preparation of substituted phenols and aromatic compounds where halogen functionality is required for coupling reactions. Commonly employed in the development of herbicides and fungicides due to its reactivity and ability to introduce both chloro and iodo groups into larger molecules. Also utilized in research settings for the construction of complex organic molecules through cross-coupling reactions such as Suzuki or Ullmann couplings.