Used as an intermediate in the synthesis of pharmaceuticals and agrochemicals, particularly in the development of fluorinated and iodinated aromatic compounds. Its reactivity allows for selective substitution reactions, making it valuable in creating complex organic molecules. Commonly employed in cross-coupling reactions such as Suzuki or Heck reactions to build biaryl structures. Also utilized in the preparation of dyes, functional materials, and radiolabeled compounds for medical imaging due to the presence of iodine.