Used in organic synthesis as an intermediate for pharmaceuticals and radiopaque contrast agents. Its iodine content makes it valuable in the development of imaging compounds for medical diagnostics. Also serves as a building block in the preparation of pyridine-based derivatives with potential biological activity. Shows utility in research related to thyroid hormone analogs due to structural similarity with iodothyronines. Employed in the synthesis of photoactive compounds and in studies involving halogen bonding in crystal engineering.