Used primarily as a building block in organic synthesis, particularly in the pharmaceutical and agrochemical industries. It serves as a key intermediate in the development of complex molecules due to the presence of both fluorine and iodine atoms, which enhance reactivity and selectivity in cross-coupling reactions. Its application extends to materials science, where it is utilized in the synthesis of advanced polymers and liquid crystals. Additionally, it plays a role in the preparation of fluorinated aromatic compounds, which are valuable in drug discovery and development.