Used primarily in organic synthesis, this compound serves as a key intermediate in the production of pharmaceuticals and agrochemicals. Its trifluoromethyl group enhances the biological activity of molecules, making it valuable in drug development, particularly for targeting specific enzymes or receptors. Additionally, it is employed in the synthesis of advanced materials, where its unique structure contributes to the development of polymers and coatings with specialized properties. Its iodine moiety also makes it useful in cross-coupling reactions, enabling the construction of complex organic frameworks.