Used in organic synthesis as an intermediate for pharmaceuticals and bioactive compounds. Serves as a building block in the preparation of indole-based derivatives with potential anticancer, antiviral, and antimicrobial activities. Commonly employed in cross-coupling reactions, such as Suzuki and Heck reactions, due to the reactive iodine moiety. Also utilized in medicinal chemistry for the development of kinase inhibitors and neuroprotective agents. Its structure allows easy functionalization at multiple positions, making it valuable in drug discovery research.