Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of anti-inflammatory and central nervous system agents. Its structure allows for selective derivatization, making it valuable in constructing complex molecules. Commonly employed in cross-coupling reactions to introduce aromatic and fluorinated moieties, enhancing metabolic stability and binding affinity in drug candidates. Also utilized in agrochemicals for creating herbicides and fungicides due to the presence of trifluoromethyl group, which improves lipophilicity and bioavailability. Frequently applied in research settings for building blocks in medicinal chemistry and structure-activity relationship studies.