This chemical is primarily utilized in organic synthesis as a versatile intermediate for constructing complex molecules. Its iodine atom makes it a valuable substrate in cross-coupling reactions, such as Suzuki or Sonogashira couplings, enabling the formation of carbon-carbon bonds. It is also employed in the development of pharmaceuticals, particularly in the synthesis of compounds with potential therapeutic properties. Additionally, its structure allows for further functionalization, making it useful in the preparation of agrochemicals and specialty chemicals. Its application extends to material science, where it can be used to modify polymers or create advanced organic materials.