Used in organic synthesis as an intermediate for pharmaceuticals and functional materials. Serves as a building block in the preparation of ligands for catalysis and in the development of metal-organic frameworks (MOFs). Also employed in cross-coupling reactions, such as Suzuki and Heck reactions, due to the presence of the iodine moiety, enabling the formation of biaryl and styryl derivatives. Finds application in the synthesis of conjugated systems for optoelectronic materials and sensors.