This chemical is primarily utilized in organic synthesis as a versatile building block for the development of more complex molecules. Its unique structure, featuring fluorine and iodine substituents, makes it particularly valuable in cross-coupling reactions, such as Suzuki or Sonogashira couplings, which are essential in the preparation of pharmaceuticals, agrochemicals, and advanced materials. Additionally, its fluorine atoms can enhance the stability and bioavailability of the resulting compounds, making it a key intermediate in drug discovery and development processes.