Used primarily in pharmaceutical research, this compound serves as a key intermediate in the synthesis of various biologically active molecules. It is particularly valuable in the development of potential drug candidates targeting neurological disorders, due to its ability to modify and enhance the pharmacological properties of lead compounds. Additionally, it is employed in the creation of agrochemicals, where it contributes to the formulation of more effective pesticides and herbicides. Its unique structure allows for the introduction of the trifluoromethoxy group, which can improve the stability and activity of the final products in both medicinal and agricultural applications.