Used as an intermediate in the synthesis of pharmaceuticals and fine chemicals, particularly in the development of hormone therapies and cardiovascular drugs. It serves as a building block in organic reactions where iodine acts as a good leaving group, facilitating coupling reactions such as Suzuki or Heck reactions. Also employed in the preparation of methoxy-substituted phenolic compounds with antioxidant properties. Its structure supports applications in agrochemicals and dyes due to the reactivity of the phenolic hydroxyl and iodo functional groups.