Used primarily in organic synthesis, this compound serves as a versatile intermediate in the production of various pharmaceuticals and agrochemicals. It is particularly valuable in the development of pyridine derivatives, which are essential in creating drugs targeting neurological disorders and infections. Additionally, it plays a role in the synthesis of ligands for metal-catalyzed reactions, aiding in the creation of complex molecules. Its iodine moiety makes it a useful building block for further functionalization in medicinal chemistry research.