Used primarily in organic synthesis as a building block for more complex molecules. It serves as an intermediate in the production of pharmaceuticals, agrochemicals, and specialty chemicals. The iodine atom in the compound makes it a valuable reagent for cross-coupling reactions, such as Suzuki and Sonogashira couplings, which are essential in creating carbon-carbon bonds. Additionally, its methoxy groups can be utilized for further functionalization, enabling the development of diverse chemical structures. Its applications also extend to material science, where it contributes to the synthesis of advanced organic materials.