This chemical is primarily utilized in organic synthesis, particularly in the development of pharmaceuticals and agrochemicals. It serves as a key intermediate in the production of compounds with potential biological activity, especially those targeting specific enzymes or receptors. Its trifluoromethyl group enhances the lipophilicity and metabolic stability of the resulting molecules, making it valuable in drug discovery. Additionally, the iodine atom in its structure allows for further functionalization through cross-coupling reactions, enabling the creation of complex molecular architectures. It is also explored in material science for the synthesis of advanced polymers and coatings with unique properties.