Used primarily as an intermediate in organic synthesis, this compound plays a crucial role in the development of pharmaceuticals and agrochemicals. Its trifluoromethyl and iodine groups make it valuable for creating complex molecules, particularly in the construction of active ingredients in drugs. It is also employed in the synthesis of liquid crystals and advanced materials, where its unique structure contributes to desired electronic and optical properties. Additionally, it serves as a building block in research for developing novel compounds with potential applications in medicinal chemistry.