Used primarily as an intermediate in organic synthesis, especially in the production of pharmaceuticals and fine chemicals. It serves as a building block in the preparation of bioactive molecules due to the presence of both iodo and carbonyl functional groups, which allow for further chemical transformations such as cross-coupling reactions. Commonly employed in the synthesis of analgesics and anti-inflammatory agents. Also utilized in research settings for the development of new synthetic routes and heterocyclic compounds. Its reactivity makes it valuable in forming carbon-carbon bonds under palladium-catalyzed conditions. Handle with care due to potential lachrymatory and irritant properties.