This chemical is primarily utilized as a versatile reagent in organic synthesis, particularly in the preparation of trifluoromethylated compounds. It serves as a trifluoroacetylating agent, enabling the introduction of the trifluoroacetyl group into various substrates, which is valuable in the development of pharmaceuticals and agrochemicals. Additionally, it is employed in the synthesis of peptides and other bioactive molecules, where its ability to act as a protecting group for amines is highly advantageous. Its stability and reactivity make it a useful tool in constructing complex molecular structures, especially in medicinal chemistry research.