Used in organic synthesis as an intermediate for pharmaceuticals and agrochemicals. Serves as a building block in the preparation of biologically active compounds, particularly in the development of kinase inhibitors and other medicinal agents. Commonly employed in cross-coupling reactions, such as Suzuki and Heck reactions, due to the reactivity of the iodine moiety. Also utilized in research settings for the synthesis of indazole-based derivatives with potential anticancer, antiviral, and anti-inflammatory properties.