Used primarily in organic synthesis, it serves as a key intermediate in the development of pharmaceuticals and agrochemicals. Its structure is particularly valuable in constructing complex molecules, especially those containing pyridine and phenyl groups. It is also employed in cross-coupling reactions, such as Suzuki and Heck reactions, to create biologically active compounds. Additionally, it finds use in research for developing potential therapeutic agents targeting various diseases, including cancer and neurological disorders. Its iodine moiety makes it a versatile building block for further functionalization in medicinal chemistry.