This compound is primarily utilized in the field of pharmaceutical research and development, where it serves as a key intermediate in the synthesis of various biologically active molecules. Its unique structure, featuring a trifluoromethoxy group and an indazole core, makes it valuable in the design of potential drug candidates, particularly those targeting enzyme inhibition or receptor modulation. Researchers often explore its derivatives for applications in treating conditions such as inflammation, cancer, and neurological disorders. Additionally, its chemical properties are leveraged in medicinal chemistry to enhance the pharmacokinetic and pharmacodynamic profiles of experimental compounds.