This chemical is primarily utilized in organic synthesis as a building block for the preparation of more complex molecules. It serves as a key intermediate in the synthesis of various pharmaceuticals, particularly those targeting neurological and cardiovascular disorders. Its iodine atom makes it a valuable substrate for cross-coupling reactions, such as Suzuki or Sonogashira couplings, which are essential in creating biologically active compounds. Additionally, the dimethoxy groups enhance its reactivity in electrophilic substitution reactions, enabling the development of novel drug candidates. It is also employed in the research and development of agrochemicals, contributing to the creation of new pesticides or herbicides. Its unique structure allows for modifications that can lead to compounds with improved efficacy and selectivity.