Used primarily as a key intermediate in the synthesis of pharmaceuticals and agrochemicals, this compound enables the introduction of trifluoromethylated aromatic scaffolds into more complex molecules. Its dual halogen functionality—bromine and iodine—allows for selective cross-coupling reactions, such as Suzuki or Heck reactions, making it valuable in medicinal chemistry for building bioactive molecules. The presence of the electron-withdrawing trifluoromethyl group enhances metabolic stability in drug candidates, which is particularly advantageous in the development of new therapeutic agents. It is also employed in the preparation of ligands and functional materials where halogenated aromatics are required.