Used as an intermediate in the synthesis of pharmaceuticals and agrochemicals, particularly in reactions where selective fluorination is required. Its iodine functionality allows for coupling reactions, such as Suzuki or Heck couplings, enabling the construction of complex aromatic systems. Commonly employed in the development of fluorinated active ingredients in crop protection agents and medicinal compounds due to enhanced metabolic stability imparted by fluorine atoms. Also utilized in materials science for designing liquid crystals and organic semiconductors where electronic properties are tuned by halogen substitution.