Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of antidepressants and antipsychotic drugs. Its structure supports the formation of biologically active molecules due to the presence of both aldehyde and hydroxyl functional groups, which allow for diverse chemical modifications. Commonly employed in the preparation of selective serotonin reuptake inhibitors (SSRIs) and related central nervous system agents. Also utilized in agrochemicals for the production of certain herbicides and fungicides, where the trifluoromethoxy group enhances metabolic stability and lipophilicity. Its derivatives are explored in medicinal chemistry for their potential anti-inflammatory and neuroprotective properties.