Used in organic synthesis as a key intermediate for the preparation of various pharmaceuticals and agrochemicals. It is particularly valuable in the formation of trifluoromethylated compounds, which are important in drug development due to their enhanced metabolic stability and bioavailability. Additionally, it serves as a building block in the synthesis of heterocyclic compounds, which are widely used in medicinal chemistry. Its reactivity with nucleophiles makes it a versatile reagent for constructing complex molecular structures.