This compound is primarily used in organic synthesis as an intermediate for the preparation of various pharmaceuticals and fine chemicals. It serves as a key building block in the synthesis of complex molecules, particularly in the development of drugs targeting neurological and cardiovascular disorders. Additionally, it is employed in the production of dyes, pigments, and other specialty chemicals due to its reactive iodine moiety, which facilitates coupling reactions. Its application also extends to research settings, where it is utilized in the study of chemical reactions and mechanisms involving aryl ketones.