Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the production of antidepressants and antipsychotic drugs. Its structure allows for the introduction of trifluoromethyl groups into larger molecules, enhancing metabolic stability and bioavailability. Also employed in the development of agrochemicals due to the electron-withdrawing nature of the trifluoromethyl group, which can improve pesticidal or herbicidal activity. Commonly utilized in research settings for the preparation of fluorinated organic compounds, where the ketone functionality serves as a reactive site for nucleophilic addition or condensation reactions.