May mediate the control of various cellular processes by insulin. When phosphorylated by the insulin receptor binds specifically to various cellular proteins containing SH2 domains such as phosphatidylinositol 3-kinase p85 subunit or grb2. Activates phosphatidylinositol 3-kinase when bound to the regulatory p85 subunit (By similarity). Interacts with the NPXY motif of tyrosine-phosphorylated igf1r and insr via the PTB domain. Binds to phosphatidylinositol 3-kinase p85 subunit via the phosphorylated YXXM motifs (By similarity).