Used as an intermediate in the synthesis of pharmaceuticals and agrochemicals, particularly in the development of fluorinated and iodinated aromatic compounds. Its functional groups allow for selective cross-coupling reactions, making it valuable in medicinal chemistry for building complex molecules. Commonly employed in Suzuki, Stille, and Ullmann reactions to introduce the methoxy- and halogen-substituted benzene scaffold into target compounds. Also utilized in radiolabeling studies due to the presence of iodine, enabling applications in imaging and tracer chemistry.