Used as a versatile reagent in organic synthesis, particularly for the iodination of aromatic compounds, enabling the introduction of iodine atoms into organic molecules. It is also employed in the preparation of hypervalent iodine compounds, which are valuable intermediates in various chemical transformations. Additionally, it serves as a catalyst or promoter in oxidation reactions, facilitating the conversion of alcohols to carbonyl compounds. Its stability and reactivity make it a useful tool in the development of pharmaceuticals and fine chemicals.