Used primarily as a versatile intermediate in organic synthesis, especially in pharmaceutical and agrochemical industries. It serves as a key building block in the preparation of heterocyclic compounds due to the reactivity of both the iodo and ketone functional groups. The compound is employed in cross-coupling reactions, such as Suzuki or Heck reactions, enabling the formation of carbon-carbon bonds for constructing complex molecules. Its ability to undergo nucleophilic substitution makes it valuable in the synthesis of bioactive compounds, including potential drug candidates. Additionally, it finds use in photochemical studies and as a reagent in the development of specialty chemicals.