Used as an intermediate in the synthesis of pharmaceuticals and agrochemicals, particularly in the development of fluorinated and iodinated aromatic compounds. Its structure allows for selective cross-coupling reactions, making it valuable in building complex organic molecules. Commonly employed in Suzuki and Heck reactions to introduce the chloro- and iodo-substituted aromatic ring into target compounds. Also utilized in the preparation of radiolabeled compounds for imaging studies due to the presence of iodine, which can be substituted with radioactive isotopes. The fluorine atom enhances metabolic stability in bioactive molecules, increasing its utility in medicinal chemistry.