Used primarily as a synthetic intermediate in pharmaceutical research, this compound plays a role in the development of bioactive molecules and drug candidates. Its structure supports the creation of kinase inhibitors and other agents targeting cellular signaling pathways. It is also utilized in the synthesis of cannabinoid receptor modulators, contributing to studies on the endocannabinoid system. Due to the presence of iodine, it serves as a useful handle for cross-coupling reactions such as Suzuki or Heck reactions, enabling the construction of complex organic frameworks in medicinal chemistry.