Used as an intermediate in the synthesis of pharmaceuticals and agrochemicals, particularly in the development of fluorinated and iodinated aromatic compounds. Its structure allows for selective cross-coupling reactions, making it valuable in building complex organic molecules. Commonly employed in palladium-catalyzed reactions such as Suzuki or Heck couplings to form carbon-carbon bonds. Also utilized in the preparation of bioactive molecules where the combination of fluorine and iodine substituents enhances reactivity or binding properties.