This compound is primarily utilized in organic synthesis as a building block for more complex molecules. It serves as an intermediate in the preparation of pharmaceuticals, particularly in the development of drugs targeting neurological and cardiovascular disorders. Its structure, featuring an iodine atom, makes it valuable in radiolabeling applications for medical imaging and research. Additionally, it is employed in the synthesis of ligands for catalytic processes, aiding in the creation of fine chemicals and specialty materials. Its versatility in chemical reactions, such as coupling and functionalization, makes it a key component in advanced chemical research and industrial applications.