Used primarily as an intermediate in the synthesis of pharmaceuticals and agrochemicals, this compound plays a key role in cross-coupling reactions such as Suzuki and Stille reactions due to the presence of multiple halogen atoms with differing reactivities. The bromine and iodine substituents allow for selective functionalization, enabling stepwise construction of complex organic molecules. It is particularly valuable in the development of kinase inhibitors and other biologically active compounds in medicinal chemistry research. Its structure also makes it useful in the preparation of ligands and catalysts in organometallic chemistry.