Used as a key intermediate in the synthesis of fluorinated pharmaceuticals, particularly in the development of anti-inflammatory and central nervous system agents. Its trifluoromethoxy group enhances metabolic stability and membrane permeability, making it valuable in drug design. Also employed in agrochemicals to improve herbicidal and pesticidal activity due to increased lipophilicity and resistance to degradation. Commonly utilized in research for constructing heterocyclic compounds in medicinal chemistry.