This chemical is primarily used in organic synthesis, particularly in the preparation of complex molecules. It serves as a key intermediate in the development of pharmaceutical compounds, especially those targeting specific biological pathways. The presence of the iodine atom makes it valuable in radiopharmaceuticals, where it can be used for labeling and imaging purposes in medical diagnostics. Additionally, its structure allows for further functionalization, making it versatile in creating customized molecules for research and drug development. It is also employed in peptide synthesis, aiding in the protection of amino groups during the formation of peptide bonds.