Used primarily as an intermediate in organic synthesis, this compound plays a crucial role in the development of pharmaceuticals and agrochemicals. Its structure, featuring iodine and trifluoromethyl groups, makes it valuable for creating complex molecules with specific biological activities. In medicinal chemistry, it is often employed in the synthesis of drug candidates targeting various diseases, particularly those requiring halogenated aromatic compounds. Additionally, its unique properties are utilized in material science for designing advanced polymers and coatings with enhanced performance characteristics. The compound's reactivity also makes it suitable for use in cross-coupling reactions, which are fundamental in constructing diverse organic frameworks.