This compound is primarily utilized in organic synthesis, particularly in the pharmaceutical and agrochemical industries. It serves as a versatile building block for the development of complex molecules due to the presence of both bromine and iodine atoms, which allow for selective functionalization through various coupling reactions. It is often employed in the synthesis of heterocyclic compounds, which are crucial in the creation of drugs targeting specific biological pathways. Additionally, its structure makes it valuable in the preparation of ligands for catalysis and in the study of molecular interactions in medicinal chemistry research.