Used as an intermediate in organic synthesis, particularly in the preparation of pharmaceuticals and fine chemicals. It serves as a building block in cross-coupling reactions, such as Suzuki and Heck reactions, enabling the formation of carbon-carbon bonds. Its iodo functionality provides high reactivity in palladium-catalyzed transformations, making it valuable in the development of liquid crystals, agrochemicals, and functional materials. Also employed in the synthesis of propofol derivatives and other bioactive compounds.