This compound is primarily utilized in the field of organic synthesis, where it serves as a key intermediate in the preparation of more complex molecules. Its structure, featuring both chloro and iodo substituents on the pyridine ring, makes it a versatile building block for constructing heterocyclic compounds. It is often employed in pharmaceutical research for the development of potential drug candidates, particularly in the synthesis of molecules with biological activity. Additionally, its reactive sites allow for further functionalization, enabling the creation of diverse chemical entities for use in material science and agrochemical industries. The presence of the hydroxyl group also facilitates its use in coupling reactions, making it valuable in the production of specialized polymers and ligands for catalysis.