This compound is primarily utilized in organic synthesis as a versatile building block for the creation of more complex molecules. It is particularly valuable in the pharmaceutical industry, where it serves as an intermediate in the development of active pharmaceutical ingredients (APIs). Its trifluoromethyl group enhances the biological activity and metabolic stability of the resulting compounds, making it useful in drug discovery and development. Additionally, it is employed in materials science for the synthesis of advanced materials with specific electronic or optical properties. The iodine atom in the molecule allows for further functionalization through cross-coupling reactions, enabling the construction of diverse chemical structures.