Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of kinase inhibitors and other bioactive molecules. Its structure allows for selective functionalization, making it valuable in medicinal chemistry for creating compounds with high target specificity. Commonly employed in cross-coupling reactions due to the presence of the iodine atom, enabling the formation of carbon-carbon and carbon-heteroatom bonds. Also utilized in the preparation of labeled compounds for research and imaging applications.