Used primarily in organic synthesis, this compound serves as a key intermediate in the production of pharmaceuticals and agrochemicals. It is particularly valuable in Suzuki-Miyaura cross-coupling reactions, enabling the formation of carbon-carbon bonds to create complex molecules. Its trifluoromethoxy and chloro groups enhance reactivity and selectivity, making it useful in designing biologically active compounds. Additionally, it finds applications in material science for developing advanced polymers and electronic materials.