Used primarily as an intermediate in organic synthesis, this compound serves in the preparation of heterocyclic compounds and pharmaceuticals due to its dual halogen functionality. The presence of both chlorine and iodine allows for selective substitution reactions, making it valuable in building complex molecules. It is also employed in the synthesis of ethylene derivatives and as a reagent in the formation of cyclic structures through intramolecular reactions. Its reactivity profile supports use in alkylation processes and in the development of agrochemicals.