This chemical is primarily used as a key intermediate in organic synthesis, particularly in the development of pharmaceuticals and agrochemicals. Its trifluoromethanesulfonate group makes it a highly reactive compound, often employed in coupling reactions to form complex molecules. It is especially valuable in the synthesis of active pharmaceutical ingredients (APIs) where the introduction of specific functional groups is required. Additionally, it serves as a precursor in the production of advanced materials, including polymers and specialty chemicals, due to its ability to facilitate efficient and selective transformations in chemical processes.