This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. It serves as a key intermediate for constructing complex molecules, especially in the pharmaceutical and agrochemical industries. Its unique structure, featuring both fluorine and trifluoromethyl groups, makes it valuable for introducing these moieties into target molecules, enhancing their biological activity or stability. Additionally, it is employed in the development of advanced materials, including liquid crystals and polymers, where its electronic properties can be tailored for specific applications.