How can I simplify this For loop?

Hello. I am facing a problem running this code to completion as the size of T is very big (over a million rows). While the time taken to compute one iteration isn't very long (0.2118s); assuming 1 million data points, the code will still take 100,000s. Thank you for your help!

function Xout = selectpoints(T,Xin)

for k = 1 : length(T)
    dist = (Xin(:,1)-T(k,1)).^2 + (Xin(:,2)-T(k,2)).^2 + (Xin(:,3)-T(k,3)).^2;
    [~,ind] = min(dist);
    nearest(k) = ind;
end
Xout = Xin(nearest,:);

Answer 1

[Noam]

pdist2 will do the work