Thallium(III) trifluoroacetate is primarily used as a reagent in organic synthesis, particularly in oxidation reactions. It is highly effective in converting alkenes to carbonyl compounds, such as ketones and aldehydes, through oxidative cleavage. This reagent is also employed in the synthesis of complex organic molecules, including natural products, due to its ability to facilitate specific transformations with high selectivity. Additionally, it is utilized in the preparation of organothallium compounds, which serve as intermediates in various chemical processes. Its strong oxidizing properties make it valuable in research and industrial applications where precise and efficient oxidation is required.