This compound is primarily used as a versatile building block in organic synthesis, particularly in the preparation of complex molecules. It serves as a key intermediate in the production of pharmaceuticals, where its trifluoromethyl group enhances the biological activity and metabolic stability of drug candidates. Additionally, it is employed in the synthesis of agrochemicals, contributing to the development of more effective pesticides and herbicides. Its chelating properties also make it useful in coordination chemistry, where it forms stable complexes with metal ions for catalytic applications. Furthermore, it finds use in material science for the design of advanced polymers and coatings with unique properties.