This compound is primarily utilized in pharmaceutical research and development as a key intermediate in the synthesis of various active pharmaceutical ingredients (APIs). Its structure, featuring both chloro and iodo substituents, makes it a versatile building block for constructing complex molecules, particularly in the creation of drugs targeting neurological and infectious diseases. Additionally, it serves as a precursor in the development of agrochemicals, contributing to the synthesis of herbicides and pesticides. Its methoxy group further enhances its reactivity, allowing for selective modifications in organic synthesis, which is valuable in fine chemical manufacturing.