Used as a key intermediate in the synthesis of pharmaceuticals and agrochemicals, particularly in the development of herbicides and fungicides. Its structure allows for further functionalization in heterocyclic compound formation, making it valuable in medicinal chemistry for building bioactive molecules. Commonly employed in cross-coupling reactions such as Suzuki or Heck reactions to construct carbon-carbon bonds in drug discovery pathways. Also utilized in the preparation of fluorinated analogs in research settings due to the presence of the trifluoromethoxy group, which can enhance metabolic stability and lipophilicity in target compounds.