This chemical is primarily used in organic synthesis as an intermediate for the preparation of various complex molecules. It is particularly valuable in cross-coupling reactions, such as the Suzuki-Miyaura coupling, where it serves as a key building block for constructing aromatic compounds. Additionally, it is utilized in the development of pharmaceuticals and agrochemicals, where its iodine moiety enables further functionalization. Its stability and reactivity make it a suitable candidate for research in medicinal chemistry and material science.