This compound is primarily utilized in organic synthesis as a key intermediate for the development of more complex molecules. It is often employed in the construction of heterocyclic compounds, particularly pyrazole derivatives, which are of significant interest in medicinal chemistry. The presence of the iodine atom makes it a valuable substrate for cross-coupling reactions, such as Suzuki or Sonogashira couplings, enabling the introduction of various functional groups or aromatic systems. Additionally, the methoxybenzyl group provides stability and can influence the reactivity of the molecule in further transformations. Its applications extend to the synthesis of potential pharmaceutical agents, including inhibitors or modulators of biological targets, due to the versatility of the pyrazole core in drug discovery.