This compound is primarily used as a versatile intermediate in organic synthesis, particularly in the development of complex molecules for pharmaceuticals and agrochemicals. Its unique halogen substitution pattern allows for selective functionalization, making it valuable in cross-coupling reactions such as Suzuki, Sonogashira, or Buchwald-Hartwig couplings. These reactions are crucial for constructing aromatic frameworks in drug discovery and material science. Additionally, it serves as a building block for synthesizing fluorinated and iodinated compounds, which are often explored for their biological activity or use in imaging agents. Its stability and reactivity make it a preferred choice in research and industrial applications.