Used as an intermediate in the synthesis of pharmaceuticals, particularly in the production of thyroid hormone analogs and certain antidepressants. Also employed in the development of agrochemicals and dyes. Serves as a building block in organic synthesis for introducing iodinated aromatic structures, which are valuable in cross-coupling reactions like Suzuki and Heck reactions. Additionally, utilized in the preparation of radiopharmaceuticals due to the presence of iodine, making it suitable for labeling and imaging applications.