This chemical is primarily used as a powerful oxidizing agent and electrophilic reagent in organic synthesis. It is particularly effective in the functionalization of aromatic compounds, enabling the introduction of trifluoroacetoxy groups into organic molecules. Its strong oxidative properties make it useful in the synthesis of complex organic structures, including pharmaceuticals and agrochemicals. Additionally, it is employed in the preparation of hypervalent iodine compounds, which are valuable intermediates in various chemical reactions. Its ability to facilitate selective transformations under mild conditions makes it a versatile tool in modern synthetic chemistry.