Used primarily in organic synthesis as a building block for more complex chemical compounds. It serves as an intermediate in the production of pharmaceuticals, particularly in the development of drugs targeting specific biological pathways. Additionally, it finds application in the manufacture of agrochemicals, where it contributes to the synthesis of herbicides and pesticides. Its iodine component makes it useful in radiolabeling studies, aiding in tracking and imaging in biochemical research. The compound is also employed in material science for the development of specialty polymers and coatings.