Used as a key intermediate in the synthesis of fluorinated pharmaceuticals and agrochemicals due to its reactive beta-diketone structure and trifluoromethyl group. The compound serves in the preparation of heterocyclic compounds, particularly in the formation of fluorinated pyrazoles and isoxazoles, which are common scaffolds in bioactive molecules. It is also employed in coordination chemistry as a ligand precursor for metal complexes used in catalysis. Its selective reactivity makes it valuable in fine chemical synthesis where fluorine substitution enhances metabolic stability and lipophilicity.