Used primarily in organic synthesis, this compound serves as a key intermediate in the preparation of pharmaceuticals and agrochemicals. It is particularly valuable in Suzuki-Miyaura cross-coupling reactions, where it facilitates the formation of carbon-carbon bonds, enabling the synthesis of complex organic molecules. Its trifluoromethyl group enhances the biological activity of the resulting compounds, making it useful in the development of drugs with improved efficacy and stability. Additionally, it finds application in the production of advanced materials and specialty chemicals, contributing to innovations in various industrial sectors.