Used as a key intermediate in the synthesis of pharmaceuticals and agrochemicals, particularly in the development of fluorinated organic compounds. Its mixed halogen functionality (fluoro and iodo) allows for selective cross-coupling reactions, making it valuable in medicinal chemistry for building complex aromatic structures. The presence of the electron-withdrawing trifluoromethyl group enhances reactivity and stability in various transformation processes, including Suzuki and Ullmann couplings. It is also employed in the preparation of functional materials and specialty chemicals where fluorine substitution is critical for performance.