This compound is primarily utilized in the pharmaceutical and agrochemical industries due to its unique structural properties. It serves as a key intermediate in the synthesis of various biologically active molecules, particularly those targeting neurological and psychiatric disorders. Its trifluoroethyl group enhances the metabolic stability and bioavailability of the resulting drugs, making it valuable in the development of antidepressants, antipsychotics, and anti-inflammatory agents. Additionally, it is employed in the creation of agrochemicals, where it contributes to the formulation of pesticides and herbicides with improved efficacy and environmental safety. Its indole moiety also makes it a candidate for research in cancer treatment, as it can interact with specific cellular pathways involved in tumor growth.