Used primarily in organic synthesis, this compound serves as a key intermediate in the production of various pharmaceuticals and agrochemicals. Its structure allows for further functionalization, making it valuable in the development of complex molecules. It is also employed in research settings for the study of aromatic substitution reactions, aiding in the understanding of reaction mechanisms and the design of new compounds. Additionally, its iodine component makes it useful in radiolabeling applications, particularly in the development of imaging agents for medical diagnostics.