Used primarily in organic synthesis, this compound serves as a key intermediate in the production of pharmaceuticals and agrochemicals. Its difluoromethoxy and iodo groups make it valuable for constructing complex molecules, particularly in the development of active pharmaceutical ingredients (APIs). It is often employed in cross-coupling reactions, such as Suzuki or Sonogashira couplings, to introduce aromatic segments into target molecules. Additionally, its structure is useful in the synthesis of compounds with potential biological activity, including anti-inflammatory and antimicrobial agents.