Used in organic synthesis as an intermediate for pharmaceuticals and bioactive compounds. Serves as a building block in the development of indole-based drugs, particularly in the design of serotonin receptor modulators and kinase inhibitors. Its iodine functionality allows for further modification via cross-coupling reactions such as Suzuki or Heck reactions, enabling the creation of complex molecular structures. Also explored in medicinal chemistry for potential applications in neurodegenerative disease research and anticancer agent development.