Used primarily as an intermediate in organic synthesis, especially in cross-coupling reactions such as Suzuki and Heck reactions, to introduce aromatic frameworks in pharmaceuticals and agrochemicals. Its iodine functionality makes it highly reactive in palladium-catalyzed transformations, enabling the formation of carbon-carbon bonds. Commonly employed in the development of complex molecules including active pharmaceutical ingredients (APIs) and functional materials. Also utilized in the synthesis of ligands and catalysts for industrial and research applications.