This chemical is primarily utilized in the field of organic synthesis, where it serves as a key intermediate in the production of more complex molecules. Its structure, featuring both chloro and iodo substituents, makes it highly reactive and suitable for various cross-coupling reactions, such as Suzuki or Sonogashira couplings, which are essential in pharmaceutical and agrochemical research. Additionally, it is often employed in the development of nucleoside analogs, which are crucial in antiviral and anticancer drug discovery. Its methyl group further enhances its versatility, allowing for selective modifications in synthetic pathways.