Used as a building block in organic synthesis, particularly in the preparation of fluorinated pharmaceuticals and agrochemicals. Its reactivity allows for the introduction of both benzyl and fluoroacetyl groups, enabling the development of compounds with enhanced metabolic stability and bioavailability. Commonly employed in research settings to study fluorine effects in biologically active molecules. Also utilized in the synthesis of specialty esters and as an intermediate in the production of certain central nervous system agents. Due to the toxicity associated with fluoroacetate derivatives, handling is restricted to controlled environments for research and development purposes.