This compound is primarily utilized in organic synthesis as an intermediate for the preparation of more complex molecules. Its structure, featuring an iodo group and methoxy substituents, makes it a valuable building block in the development of pharmaceuticals, particularly in the synthesis of compounds with potential biological activity. The ester group allows for further functionalization, enabling chemists to modify the molecule for specific applications. Additionally, it can be employed in cross-coupling reactions, such as Suzuki or Sonogashira couplings, to create diverse aromatic systems. Its role in research is significant for exploring new drug candidates or materials with tailored properties.