Used primarily in organic synthesis, this compound serves as a key intermediate in the preparation of various pharmaceuticals and agrochemicals. It is particularly valuable in Suzuki-Miyaura cross-coupling reactions, where it facilitates the formation of carbon-carbon bonds, essential for constructing complex organic molecules. Its trifluoromethyl group enhances the biological activity of the resulting compounds, making it useful in developing drugs with improved efficacy and stability. Additionally, it finds applications in material science, contributing to the synthesis of advanced polymers and organic electronic materials.