This chemical is primarily utilized in organic synthesis as a versatile intermediate for constructing more complex molecular structures. It is particularly valuable in pharmaceutical research, where it serves as a building block for developing compounds with potential therapeutic properties. Its iodine moiety makes it a useful substrate for cross-coupling reactions, such as Suzuki or Sonogashira couplings, enabling the creation of diverse heterocyclic compounds. Additionally, it finds application in materials science for designing novel organic materials with specific electronic or optical properties. Its unique structure also makes it a candidate for studying chemical reactivity and mechanisms in synthetic chemistry.