Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of agrochemicals and bioactive molecules. Its structure allows for selective functionalization, making it valuable in creating herbicides and insecticides. Commonly employed in cross-coupling reactions such as Suzuki or Heck reactions to build complex aromatic systems. Also utilized in the preparation of kinase inhibitors and other therapeutic agents due to the electron-withdrawing nature of the trifluoromethoxy group, which enhances metabolic stability and binding affinity in drug candidates.