Used primarily in organic synthesis, this compound serves as a key intermediate for the introduction of the trifluoromethylbenzyl group into various molecules. It is particularly valuable in the pharmaceutical industry for the development of drugs, where the trifluoromethyl group can enhance metabolic stability and bioavailability. Additionally, it finds application in agrochemical research for creating compounds with improved pest control properties. Its reactivity with nucleophiles makes it useful in the preparation of complex organic structures, including polymers and specialty chemicals.