Used as a key intermediate in the synthesis of pharmaceuticals and agrochemicals, particularly in the development of bioactive molecules. Its structure allows for easy functionalization, making it valuable in constructing complex organic compounds. Commonly employed in cross-coupling reactions such as Suzuki and Heck reactions to form carbon-carbon bonds. Also utilized in the preparation of natural product analogs and heterocyclic compounds with potential medicinal properties. Its iodine moiety facilitates radiolabeling applications in medicinal chemistry and imaging studies.