Used as a key intermediate in the synthesis of fluorinated pharmaceuticals and agrochemicals due to its reactive β-diketone structure and electron-withdrawing trifluoromethyl group. The compound enables the formation of heterocyclic systems through cyclization reactions, particularly in the development of bioactive molecules with enhanced metabolic stability and lipophilicity. It is also employed in the preparation of ligands for catalysis and in materials science for designing fluorinated organic compounds with unique electronic properties.