Potassium iodide solution is widely used in medical settings as a treatment for thyroid protection. It is administered in cases of nuclear emergencies to saturate the thyroid gland with stable iodine, preventing the uptake of radioactive iodine isotopes that could lead to thyroid cancer.

In the field of chemistry, it serves as a reagent in various analytical tests, such as detecting the presence of oxidizing agents. It is also used in organic synthesis as a source of iodide ions in reactions like the Finkelstein reaction, where it facilitates the substitution of halides.

Additionally, potassium iodide solution is employed in photography to prepare emulsions and in the production of photographic chemicals. It is also used in the food industry as a nutritional supplement to address iodine deficiency, ensuring proper thyroid function, and in agriculture as an additive in animal feed to supplement iodine.

In industrial applications, it acts as a catalyst in certain chemical processes and is used in the manufacturing of dyes and pigments. It may also be utilized in water treatment processes for specific conditioning or analytical purposes. Its versatility makes it a valuable compound across multiple fields.