Used as an intermediate in the synthesis of pharmaceuticals and agrochemicals, particularly in the development of fluorinated organic compounds. Its structure allows for selective functionalization in drug design, making it valuable in creating bioactive molecules. Commonly employed in cross-coupling reactions due to the presence of the iodine moiety, enabling the formation of carbon-carbon bonds in advanced synthetic pathways. Also utilized in the preparation of liquid crystals and specialty polymers where fluorine substitution enhances thermal and chemical stability.