This compound is primarily utilized in organic synthesis as a building block for more complex molecules. It serves as an intermediate in the production of pharmaceuticals and agrochemicals, where its trifluoromethoxy and iodo groups enable specific reactivity and functionalization. The compound is also employed in the development of advanced materials, particularly in the creation of liquid crystals and polymers with unique electronic or optical properties. Its structural features make it valuable in research focused on designing molecules with targeted biological activity or material characteristics.