This compound is primarily utilized in the field of organic synthesis, particularly in the development of complex organic molecules. It serves as a key intermediate in the preparation of various heterocyclic compounds, which are essential in pharmaceutical research and drug development. Its structure, featuring iodine atoms, makes it a valuable reagent in cross-coupling reactions, such as the Suzuki and Sonogashira couplings, enabling the formation of carbon-carbon bonds. Additionally, it is employed in the synthesis of organic electronic materials, including conductive polymers and semiconductors, which are critical components in optoelectronic devices like organic light-emitting diodes (OLEDs) and solar cells. Its unique properties also make it suitable for use in the creation of advanced materials with potential applications in nanotechnology and material science.