This chemical is primarily used as an intermediate in organic synthesis, particularly in the production of pharmaceuticals and agrochemicals. It serves as a key building block for constructing complex molecules due to its reactive triflate group, which facilitates coupling reactions. Additionally, it is employed in the development of advanced materials, such as liquid crystals and polymers, where its acetyl and triflate functionalities contribute to specific properties. Its versatility also extends to research applications, where it is utilized in the study of reaction mechanisms and the development of novel synthetic pathways.