This chemical is primarily utilized in organic synthesis as a building block for more complex molecules. It is often employed in cross-coupling reactions, such as Suzuki or Heck reactions, due to the presence of the iodine substituent, which facilitates the formation of carbon-carbon bonds. Additionally, the trifluoromethyl group enhances the compound's reactivity and stability, making it valuable in the development of pharmaceuticals, agrochemicals, and advanced materials. Its unique structure also allows it to act as an intermediate in the synthesis of compounds with potential biological activity, particularly in medicinal chemistry research.