Used as an intermediate in the synthesis of pharmaceuticals and agrochemicals, particularly in cross-coupling reactions such as Suzuki and Ullmann reactions to form biaryl compounds. It serves as a building block in the preparation of functionalized aromatic systems for materials science, including organic semiconductors and liquid crystals. Its halogen substituents allow selective sequential functionalization, making it valuable in multi-step organic synthesis. Also employed in the development of radiolabeled compounds for imaging and tracer studies due to the presence of iodine.