Used primarily in organic synthesis, this compound serves as a key intermediate in the preparation of various pharmaceuticals and agrochemicals. It is particularly valuable in Suzuki-Miyaura cross-coupling reactions, where it facilitates the formation of carbon-carbon bonds to create complex organic molecules. Its trifluoromethyl group enhances the biological activity and stability of the resulting compounds, making it essential in the development of drugs with improved efficacy and selectivity. Additionally, it is employed in the synthesis of advanced materials and specialty chemicals, contributing to innovations in material science and industrial chemistry.