Used as an intermediate in the synthesis of pharmaceuticals, particularly in the development of kinase inhibitors and other biologically active compounds. Its structure allows for further functionalization, making it valuable in medicinal chemistry for creating pyrazole-based drug candidates. Commonly employed in research settings to build more complex molecules with potential therapeutic effects, including anti-inflammatory and anticancer agents. Also utilized in agrochemical research for the design of novel pesticides and herbicides due to its reactive iodine moiety, which facilitates cross-coupling reactions.