Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of antifungal and anticancer agents. Its iodine functionality allows for further modification through cross-coupling reactions, making it valuable in medicinal chemistry for building complex heterocyclic systems. Also employed in the preparation of ligands for metal-catalyzed reactions and in the design of imaging agents due to the presence of iodine, which can be useful in radiolabeling applications.