This compound is primarily utilized in organic synthesis and pharmaceutical research. It serves as a key intermediate in the development of various biologically active molecules, particularly in the synthesis of isoquinoline derivatives. These derivatives are often explored for their potential therapeutic properties, including antimicrobial, anticancer, and anti-inflammatory activities. Additionally, it is used in the preparation of complex heterocyclic compounds, which are valuable in drug discovery and medicinal chemistry. Its iodine moiety makes it a useful building block for further functionalization through cross-coupling reactions, enabling the creation of diverse chemical structures.