This compound is primarily utilized in organic synthesis and pharmaceutical research. It serves as a key intermediate in the development of various biologically active molecules, particularly in the synthesis of quinoline derivatives. These derivatives are often explored for their potential therapeutic applications, including antimicrobial, anticancer, and anti-inflammatory properties. Additionally, it is used in the preparation of complex organic compounds for drug discovery and development, aiding in the creation of novel pharmacophores. Its iodine moiety makes it valuable in cross-coupling reactions, which are essential in constructing diverse chemical structures.