Used primarily in organic synthesis, this compound serves as an intermediate in the production of pharmaceuticals and agrochemicals. Its structure, featuring both iodo and methoxy groups, makes it valuable for constructing complex molecules through cross-coupling reactions, such as Suzuki or Heck reactions. It is also employed in the development of biologically active compounds, including potential drug candidates targeting specific enzymes or receptors. Additionally, it finds use in material science for creating specialized polymers or coatings with unique properties. Its versatility in chemical transformations makes it a key reagent in research and industrial applications.