Used in organic synthesis as a building block for complex molecules, particularly in cross-coupling reactions to form carbon-carbon bonds. It serves as a precursor in the production of pharmaceuticals, agrochemicals, and specialty chemicals. Its iodine atom makes it reactive in palladium-catalyzed reactions, such as the Heck reaction, enabling the creation of alkenes with specific structures. Additionally, it is utilized in material science for modifying polymers and creating functionalized materials.