Used primarily in pharmaceutical research, this compound serves as a key intermediate in the synthesis of various biologically active molecules. Its structure is particularly valuable in the development of potential therapeutic agents, especially in the field of oncology, where it may be used to create inhibitors targeting specific enzymes or receptors involved in cancer progression. Additionally, it finds utility in organic synthesis for constructing complex heterocyclic compounds, which are often explored for their medicinal properties. Its iodine atom also makes it a useful building block in cross-coupling reactions, enabling the formation of carbon-carbon bonds in drug discovery and development processes.