This chemical is primarily utilized in organic synthesis as a versatile intermediate for the preparation of more complex molecules. It is often employed in the development of pharmaceuticals, particularly in the synthesis of active pharmaceutical ingredients (APIs) that require a substituted benzoate structure. The presence of iodine in the molecule makes it a valuable precursor for further functionalization through cross-coupling reactions, such as Suzuki or Sonogashira couplings, which are widely used in drug discovery. Additionally, its methoxy and amino groups provide sites for further chemical modifications, enabling the creation of diverse compounds with potential biological activity. It may also find applications in material science for the design of organic electronic materials due to its aromatic structure and functional groups.