This chemical is primarily utilized in organic synthesis as a versatile building block for the construction of complex molecules. Its unique combination of halogen substituents (bromine, fluorine, and iodine) makes it valuable for introducing functional groups or facilitating cross-coupling reactions, such as Suzuki or Heck reactions, in pharmaceutical and agrochemical research. It is also employed in the development of advanced materials and as an intermediate in the synthesis of fluorinated aromatic compounds, which are often used in medicinal chemistry for their enhanced stability and bioavailability.