Used in organic synthesis as an intermediate for the production of pharmaceuticals, agrochemicals, and specialty chemicals. Its unique structure, with both chloro and iodo substituents, makes it valuable for cross-coupling reactions, such as Suzuki or Sonogashira reactions, to create complex organic compounds. It is also employed in the development of liquid crystals and advanced materials due to its ability to modify molecular properties. Additionally, it serves as a precursor in the synthesis of dyes and pigments, contributing to the production of colorants for various industrial applications.