Used as an intermediate in organic synthesis, particularly in the preparation of bioactive molecules and pharmaceuticals. Its iodine functionality allows for further cross-coupling reactions, such as Suzuki or Heck reactions, enabling the construction of complex organic structures. Commonly employed in the development of radiolabeled compounds for imaging studies due to the presence of iodine, which can be substituted with radioactive isotopes like I-123 or I-125. Also serves as a building block in the synthesis of polymers and functional materials where controlled chain extension or surface modification is required.