This compound is primarily utilized in the synthesis of pharmaceuticals and agrochemicals due to its trifluoromethyl group, which enhances the biological activity and stability of the resulting molecules. It serves as a key intermediate in the production of various drugs, particularly those targeting central nervous system disorders and inflammation. Additionally, it is employed in the development of herbicides and pesticides, where the trifluoromethyl group contributes to improved efficacy and selectivity. Its unique structural properties also make it valuable in organic synthesis for creating complex molecules with specific functional characteristics.