This compound is primarily utilized in organic synthesis as a versatile reagent for the introduction of the iodomethyl group. It is particularly valuable in cross-coupling reactions, where it serves as a stable and efficient source of the iodomethyl moiety. The trifluoroborate group enhances its stability, making it easier to handle and store compared to other iodomethyl reagents. It is commonly employed in the synthesis of complex molecules, including pharmaceuticals and agrochemicals, where precise functional group transformations are required. Additionally, its reactivity allows for the construction of carbon-carbon and carbon-heteroatom bonds, making it a useful tool in medicinal chemistry and material science.