This compound is primarily utilized in organic synthesis as an intermediate for the preparation of more complex molecules. It is particularly valuable in pharmaceutical research, where it serves as a building block for the development of active pharmaceutical ingredients (APIs). The presence of the iodine atom makes it a useful candidate for further functionalization through cross-coupling reactions, such as Suzuki or Sonogashira couplings, enabling the creation of diverse chemical structures. Additionally, its methoxy and carbamate groups provide sites for further chemical modifications, making it versatile in drug discovery and medicinal chemistry. It is also employed in the synthesis of agrochemicals and other fine chemicals, where specific functional groups are required for targeted biological activity.