This chemical is primarily utilized in organic synthesis as a versatile intermediate for the development of more complex chemical structures. Its unique structure, featuring both iodine and pyrazole rings, makes it valuable in the creation of pharmaceuticals, particularly in the synthesis of compounds with potential biological activity. It is often employed in cross-coupling reactions, such as Suzuki or Sonogashira couplings, to introduce the pyrazole moiety into larger molecules. Additionally, it serves as a building block in the preparation of agrochemicals, where its derivatives may exhibit herbicidal or pesticidal properties. Researchers also explore its use in material science, particularly in the design of organic electronic materials due to its potential for modifying electronic properties.