Used in organic synthesis as a building block for more complex molecules, particularly in the development of pharmaceuticals and agrochemicals. It serves as a key intermediate in the creation of compounds with potential biological activity, such as inhibitors or receptor modulators. Its iodine atom allows for further functionalization through cross-coupling reactions, making it valuable in medicinal chemistry research. Additionally, it may be employed in the synthesis of heterocyclic compounds, which are important in drug discovery and material science.