Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of drugs targeting inflammatory and autoimmune diseases. It is also employed in organic synthesis for the preparation of boron-containing compounds, which are valuable in cross-coupling reactions like Suzuki-Miyaura reactions. Additionally, it finds application in material science for the creation of advanced polymers and coatings with enhanced properties. Its trifluoromethyl group contributes to increased stability and reactivity, making it useful in various industrial and research applications.