Used as a key intermediate in the synthesis of pharmaceuticals and bioactive compounds, particularly in the development of thyroid hormone analogs and radiolabeled compounds for medical imaging. Its iodine functionality allows for further derivatization via cross-coupling reactions, making it valuable in medicinal chemistry for constructing complex aromatic structures. Also employed in the preparation of selective estrogen receptor modulators due to its phenolic and ether moieties, which contribute to binding affinity and metabolic stability.