Used as an intermediate in the synthesis of pharmaceuticals and agrochemicals, particularly in the development of fluorinated organic compounds. Its structure allows for selective functionalization through both the iodo and nitro groups, making it valuable in cross-coupling reactions such as Suzuki or Heck reactions. The presence of fluorine enhances metabolic stability in bioactive molecules, so this compound is often employed in the design of drug candidates targeting central nervous system disorders and anti-inflammatory agents. It also finds use in the preparation of dyes and functional materials where halogenated aromatics are required.