Used primarily in organic synthesis, this compound serves as a key intermediate in the development of pharmaceuticals, particularly in the creation of active pharmaceutical ingredients (APIs). Its structure is valuable for constructing complex molecules, often utilized in the synthesis of heterocyclic compounds. Additionally, it finds application in research settings for studying enzyme inhibition and receptor binding activities, aiding in the discovery of new therapeutic agents. Its iodine moiety makes it useful in cross-coupling reactions, such as Suzuki or Sonogashira couplings, which are essential in medicinal chemistry for building diverse molecular architectures.