Used primarily as an intermediate in the synthesis of fluorinated pharmaceuticals and agrochemicals. Its iodine and fluorine substituents make it suitable for coupling reactions and functional group transformations in organic synthesis. Commonly employed in the preparation of fluorinated building blocks for drug development, where the fluorine atoms enhance metabolic stability and bioavailability. Also utilized in the manufacture of specialty fluoroelastomers and surfactants requiring thermal and chemical resistance. Its reactivity allows for easy introduction into larger molecules via nucleophilic substitution or metal-catalyzed cross-coupling processes.