Used as an intermediate in the synthesis of pharmaceuticals and agrochemicals, particularly in the development of herbicides and fungicides. Its structure allows for further functionalization in organic reactions, making it valuable in building complex molecules. Commonly employed in cross-coupling reactions such as Suzuki or Ullmann reactions to form carbon-carbon or carbon-heteroatom bonds. Also utilized in the preparation of fluorinated analogs in medicinal chemistry due to the presence of the trifluoromethoxy group, which can enhance metabolic stability and bioavailability.