This chemical is primarily utilized in organic synthesis as a versatile building block for the development of more complex molecules. It is often employed in cross-coupling reactions, such as Suzuki or Stille couplings, due to the presence of both bromine and iodine atoms, which act as reactive sites for these transformations. The methoxy group further enhances its reactivity and selectivity in various chemical processes. It is commonly used in pharmaceutical research for the synthesis of drug intermediates, particularly in the development of compounds with potential therapeutic applications. Additionally, it finds use in material science for creating specialized organic compounds with unique electronic or structural properties.