Used as a key intermediate in the synthesis of pharmaceuticals and agrochemicals, particularly in the development of fluorinated organic compounds where the combination of fluorine and iodine atoms allows for selective cross-coupling reactions. The presence of multiple fluorine atoms enhances metabolic stability and lipophilicity in drug candidates, making it valuable in medicinal chemistry. It is also employed in materials science for designing liquid crystals and functional organic materials due to its electron-withdrawing properties and structural rigidity. The iodine moiety enables further functionalization via palladium-catalyzed reactions, facilitating the construction of complex molecules in research and industrial settings.