Used as an alkylating agent in organic synthesis, particularly in the preparation of complex molecules where introduction of a benzoate ester with a reactive iodine functionality is required. Its reactivity allows for carbon-carbon or carbon-heteroatom bond formation under mild conditions. Commonly employed in pharmaceutical research for modifying active compounds and building blocks. Also utilized in the development of radiolabeled compounds due to the presence of iodine, facilitating tracking in biological systems. Handle with care as it is moisture-sensitive and potentially toxic.