Used as an intermediate in the synthesis of pharmaceuticals and agrochemicals due to the presence of multiple reactive sites. The fluorine and iodine atoms allow for selective cross-coupling reactions, such as Suzuki or Ullmann reactions, enabling the construction of complex aromatic systems. The nitro group can be reduced to an amine, facilitating the formation of dyes, pigments, or bioactive molecules. Its versatility makes it valuable in medicinal chemistry for developing new drug candidates and in materials science for designing functional organic compounds.