Used primarily as an intermediate in organic synthesis, especially in pharmaceutical and agrochemical manufacturing. Its iodine functionality allows for coupling reactions such as Suzuki or Heck reactions, enabling the construction of complex aromatic structures. The hydroxyl group provides a site for further modification, such as esterification or ether formation, making it valuable in multi-step synthesis. Commonly employed in the development of bioactive molecules where dimethylphenyl scaffolds are required.