This compound is primarily utilized in the field of organic synthesis, where it serves as a versatile building block for the construction of more complex molecules. Its structure, featuring both an iodine substituent and a nitrile group, makes it particularly useful in cross-coupling reactions, such as the Suzuki-Miyaura and Sonogashira couplings, which are essential in the development of pharmaceuticals and agrochemicals. Additionally, the pyrazole core is a common motif in medicinal chemistry, and this compound can be employed to create derivatives with potential biological activity. Researchers also explore its use in the synthesis of heterocyclic compounds, which are important in the design of new materials and catalysts.