Used primarily in organic synthesis, this compound serves as a key intermediate in the production of various pharmaceuticals and fine chemicals. It is particularly valuable in the synthesis of complex molecules due to the reactivity of the iodine and aldehyde functional groups. The methoxy group enhances its stability and influences the electronic properties, making it useful in cross-coupling reactions, such as Suzuki or Sonogashira couplings, which are essential in creating bioactive compounds. Additionally, it is employed in the development of agrochemicals and dyes, where its structural features contribute to the desired properties of the final product.