This compound is primarily utilized in organic synthesis as a key intermediate for the development of more complex molecules. Its structure, featuring both a pyrazole ring and an iodo substituent, makes it particularly valuable in cross-coupling reactions, such as Suzuki or Sonogashira couplings, which are essential in constructing advanced pharmaceutical compounds. Additionally, the presence of the methoxybenzyl group enhances its utility in the synthesis of bioactive molecules, including potential drug candidates targeting various diseases. Researchers also explore its use in the preparation of heterocyclic compounds, which are often employed in medicinal chemistry for their diverse biological activities.