Used as an intermediate in the synthesis of pharmaceuticals and agrochemicals, particularly in the development of herbicides and fungicides. Its structure allows for selective functionalization in organic reactions, making it valuable in building complex aromatic compounds. Commonly employed in cross-coupling reactions such as Suzuki or Heck reactions to introduce the trifluoromethoxy and methoxy substituted aryl group. Also utilized in research settings for the preparation of fluorinated analogs in medicinal chemistry due to the metabolic stability imparted by the trifluoromethoxy moiety.