Used primarily in the pharmaceutical industry, this compound serves as a key intermediate in the synthesis of various drugs, particularly those targeting central nervous system disorders. Its structure is valuable in creating molecules with potential antipsychotic and antidepressant properties. Additionally, it finds application in organic synthesis for constructing complex biphenyl derivatives, which are crucial in developing advanced materials and agrochemicals. Its fluorine substitution enhances the stability and bioavailability of the resulting compounds, making it a preferred choice in medicinal chemistry research.