This compound is primarily utilized in the field of organic synthesis and pharmaceutical research. It serves as an intermediate in the development of various bioactive molecules, particularly those targeting specific enzymes or receptors. Its structure, featuring both an iodine substituent and a methylamino group, makes it a valuable building block for creating more complex compounds with potential therapeutic applications. Additionally, it is often employed in the study of chemical reactions involving halogenated aromatic compounds, aiding in the exploration of new synthetic pathways. Its unique properties also make it useful in the design of radiopharmaceuticals, where iodine isotopes can be incorporated for diagnostic imaging purposes.