Used as an intermediate in the synthesis of pharmaceuticals and agrochemicals, particularly in the development of fluorinated organic compounds. Its iodine and fluorine substituents allow for selective cross-coupling reactions, making it valuable in medicinal chemistry for building complex aromatic structures. Commonly employed in palladium-catalyzed reactions such as Suzuki and Heck couplings to introduce fluorinated aryl motifs into target molecules. Also utilized in materials science for designing liquid crystals and functional organic materials with enhanced stability and electronic properties.