Used primarily in organic synthesis, this compound serves as a key intermediate in the production of various pharmaceuticals and agrochemicals. Its hydrazine moiety makes it valuable for constructing heterocyclic compounds, which are often active ingredients in drugs. Additionally, the trifluoromethoxy group enhances the biological activity and stability of the resulting molecules, making it useful in the development of herbicides, insecticides, and fungicides. It is also employed in research for designing novel compounds with potential therapeutic properties, particularly in the fields of oncology and neurology.