Used as an intermediate in the synthesis of agrochemicals and pharmaceuticals, particularly in the production of herbicides and fungicides. It serves as a building block for more complex organic molecules due to the reactivity of the amino and iodo groups. The compound is also employed in the preparation of dyes and pigments, where it contributes to color stability and molecular structure tuning. Its selective reactivity makes it valuable in cross-coupling reactions, such as Suzuki or Heck reactions, for forming carbon-carbon bonds in fine chemical manufacturing.