This chemical is primarily used in organic synthesis as a versatile reagent for introducing trifluoromethyl groups into various organic compounds. Its application is significant in the development of pharmaceuticals and agrochemicals, where the trifluoromethyl group can enhance the biological activity, stability, and metabolic resistance of the molecules. It is also employed in the synthesis of complex molecules, particularly in the preparation of intermediates for drug discovery. Additionally, its reactivity makes it useful in cross-coupling reactions and as a building block in the creation of advanced materials with specific electronic or structural properties.