Used as a key intermediate in the synthesis of pharmaceuticals and agrochemicals, particularly in reactions involving cross-coupling such as Suzuki or Stille couplings. Its iodo functionality provides high reactivity in palladium-catalyzed reactions, while the trifluoroethyl group enhances metabolic stability and lipophilicity in bioactive molecules. Commonly employed in the development of fluorinated organic compounds where improved pharmacokinetic properties are desired. Also utilized in materials science for constructing functionalized aromatic systems in organic semiconductors and liquid crystals.