Used primarily as an intermediate in the synthesis of pharmaceuticals and fine chemicals. Its structure allows for selective functionalization, making it valuable in the development of active pharmaceutical ingredients (APIs). Commonly employed in coupling reactions, especially in palladium-catalyzed processes, to build complex aromatic systems. Also utilized in the preparation of radiolabeled compounds for medical imaging and research due to the presence of iodine, which can be replaced with radioactive isotopes. Its methoxy groups enhance solubility and direct electrophilic substitution in further derivatizations.