Used as a key intermediate in the synthesis of fluorinated pharmaceuticals, particularly in the production of non-steroidal anti-inflammatory drugs (NSAIDs) and other bioactive molecules. Its structure allows for easy introduction of trifluoromethyl groups, which can enhance metabolic stability and binding affinity in drug candidates. Commonly employed in organic synthesis for constructing chiral building blocks through asymmetric catalysis. Also utilized in the development of agrochemicals due to the favorable electronic and steric properties imparted by the trifluoroacetyl group.