This compound is primarily used in organic synthesis as a building block for the introduction of the trifluoromethyl group into various molecules. Its applications are significant in the development of pharmaceuticals, where the trifluoromethyl group can enhance the biological activity, metabolic stability, and lipophilicity of drug candidates. It is also utilized in the preparation of agrochemicals, contributing to the creation of more effective and selective pesticides and herbicides. Additionally, it serves as a key intermediate in the synthesis of specialty chemicals, including dyes, surfactants, and polymers, where the trifluoromethyl group imparts unique properties such as increased chemical resistance and thermal stability.