Used as a key intermediate in the synthesis of pharmaceutical compounds, particularly in the development of kinase inhibitors and antiviral agents. Its structure allows for selective functionalization, making it valuable in medicinal chemistry for building complex heterocyclic systems. Commonly employed in cross-coupling reactions due to the presence of the iodine moiety, enabling the formation of carbon-carbon and carbon-nitrogen bonds. Also utilized in research settings for the preparation of fluorescent probes and labeled compounds in biochemical assays.