Used primarily as an intermediate in organic synthesis, especially in the development of pharmaceuticals and biologically active compounds. Its structure allows for functionalization at multiple sites, making it valuable in the preparation of kinase inhibitors and other medicinal agents targeting neurological disorders and cancer. The iodine substituent facilitates cross-coupling reactions such as Suzuki or Heck reactions, enabling the construction of complex indazole derivatives used in drug discovery research. It also finds use in the synthesis of labeled compounds for biochemical assays and imaging studies due to the presence of a heavy iodine atom suitable for detection or radiolabeling.