Used primarily in organic synthesis, this compound serves as an intermediate in the production of various pharmaceuticals and agrochemicals. Its structure allows it to act as a building block for more complex molecules, particularly in the development of drugs targeting specific biological pathways. Additionally, it is employed in research settings for studying chemical reactions involving iodine and methoxy groups, aiding in the exploration of new synthetic routes and mechanisms. Its applications also extend to material science, where it can be utilized in the creation of specialized polymers or coatings with unique properties.