Used primarily as an intermediate in organic synthesis, this compound is valuable in the production of pharmaceuticals and agrochemicals. It is particularly useful in the introduction of the trifluoromethylbenzyl group into target molecules, enhancing their biological activity and stability. Additionally, it serves as a key reagent in the development of compounds with potential applications in medicinal chemistry, such as enzyme inhibitors and receptor modulators. Its reactivity with nucleophiles makes it a versatile building block for constructing complex organic molecules.