Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the production of fluorinated drug compounds where the fluorine atoms enhance metabolic stability and bioavailability. Commonly employed in the development of central nervous system agents and anti-inflammatory medications. Also utilized in agrochemicals for creating herbicides and pesticides due to its ability to improve lipophilicity and membrane penetration. Its benzyl alcohol structure allows for easy functionalization, making it valuable in organic synthesis and medicinal chemistry research.