Widely used as an intermediate in the synthesis of pharmaceuticals and agrochemicals. Its structure allows for further functionalization, making it valuable in building complex organic molecules. Commonly employed in the development of antimicrobial agents and disinfectants due to the presence of phenolic core and iodine, which enhances biocidal activity. Also utilized in research for creating specialty chemicals, including catalysts and ligands in organic transformations. Its derivatization is key in medicinal chemistry for exploring new bioactive compounds.