Used primarily in organic synthesis as a building block for more complex molecules, it serves as an intermediate in the production of pharmaceuticals and agrochemicals. Its iodine atom makes it a valuable reagent in cross-coupling reactions, such as the Suzuki and Sonogashira reactions, which are essential for creating carbon-carbon bonds. Additionally, it is employed in the development of liquid crystals and organic electronic materials, contributing to advancements in display technologies and optoelectronic devices. Its dimethoxy groups enhance its solubility and reactivity, making it suitable for various functionalization processes in research and industrial applications.