Used primarily as an intermediate in the synthesis of pharmaceuticals and agrochemicals, this compound serves as a building block in organic reactions where selective functionalization is required. The presence of both iodine and bromine allows for sequential cross-coupling reactions, enabling the construction of complex aromatic systems. It is particularly valuable in the development of fluorinated drug candidates, where the fluorine atom can enhance metabolic stability and bioavailability. Commonly employed in Suzuki, Stille, and Ullmann couplings, it facilitates the formation of carbon-carbon bonds in fine chemical manufacturing. Its reactivity profile makes it suitable for use in research and development of active ingredients in crop protection agents and medicinal compounds.