This chemical is primarily utilized in organic synthesis as a key intermediate in the preparation of complex organic molecules. Its unique structure, featuring iodine and methoxy groups, makes it valuable in cross-coupling reactions, particularly in the formation of carbon-carbon bonds. It is often employed in the synthesis of advanced materials and pharmaceuticals, where precise control over molecular architecture is essential. Additionally, its sterically hindered biphenyl framework can be leveraged in the development of ligands for catalysis, enhancing the selectivity and efficiency of various chemical transformations.