This chemical is primarily used in pharmaceutical research and development, particularly in the synthesis of biologically active compounds. It serves as a key intermediate in the creation of various drug candidates, especially those targeting neurological and inflammatory disorders. Its structure allows for versatile modifications, making it valuable in medicinal chemistry for designing molecules with specific therapeutic properties. Additionally, it is utilized in agrochemical research to develop novel pesticides and herbicides, leveraging its reactivity to create compounds that target specific pests or weeds. Its iodine substituent also makes it a useful building block in cross-coupling reactions, which are essential in organic synthesis for constructing complex molecular architectures.