Used primarily in organic synthesis, this compound serves as a key intermediate in the production of more complex molecules. It is particularly valuable in Suzuki-Miyaura cross-coupling reactions, where it facilitates the formation of carbon-carbon bonds, essential for creating pharmaceuticals and agrochemicals. Its trifluoromethyl group enhances the biological activity and stability of the resulting compounds, making it useful in the development of drugs targeting various diseases. Additionally, it finds application in material science for the synthesis of advanced polymers and electronic materials.