Used as an intermediate in organic synthesis, particularly in pharmaceuticals and agrochemicals. Its iodo and methoxy groups allow for selective cross-coupling reactions, making it valuable in the preparation of complex aromatic compounds. Commonly employed in the development of active pharmaceutical ingredients (APIs) where substituted benzene rings are required. Also utilized in research settings for building blocks in medicinal chemistry due to its reactivity in palladium-catalyzed reactions like Suzuki and Heck couplings.