This compound is primarily utilized in the field of pharmaceutical research and development. It serves as a key intermediate in the synthesis of various biologically active molecules, particularly those targeting neurological and psychiatric disorders. Its indole core structure is significant in the development of compounds that interact with serotonin receptors, which are crucial in regulating mood, anxiety, and cognitive functions. Additionally, its trifluoromethoxy group enhances the compound's metabolic stability and bioavailability, making it valuable in the design of drug candidates. Researchers also explore its potential in creating novel agrochemicals, leveraging its unique chemical properties to develop effective pesticides or herbicides.