Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of imidazole-based drugs with antifungal, antihypertensive, or anticancer activity. Its reactivity, especially through the iodine moiety, allows for coupling reactions such as Suzuki or Heck reactions, enabling the construction of complex molecules in medicinal chemistry. Also employed in the preparation of ligands for catalysts in asymmetric synthesis. Its benzyl group can be easily modified or removed, making it a versatile building block in heterocyclic chemistry for drug discovery and development.