Used as an intermediate in organic synthesis, particularly in the preparation of pharmaceuticals and agrochemicals. It serves as a building block in the formation of complex aromatic compounds through cross-coupling reactions, such as Suzuki or Heck reactions, where the iodo group facilitates metal-catalyzed bond formation. The amine functionality allows for further derivatization, enabling the synthesis of dyes, functional materials, and bioactive molecules. Its structure is also utilized in research settings for developing novel naphthalene-based compounds with potential applications in medicinal chemistry.