Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the production of β-lactam antibiotics. It serves as a building block for chiral molecules due to its reactive functional groups, enabling its use in asymmetric synthesis. Also employed in the development of agrochemicals and specialty polymers where selective reactivity is required. Its conjugated system allows for participation in cycloaddition and nucleophilic addition reactions, making it valuable in organic synthesis pathways.