Used in organic synthesis as a building block for more complex molecules, particularly in the development of pharmaceuticals and fine chemicals. It serves as a key intermediate in the production of bioactive compounds, including potential drug candidates. Its structure is valuable in cyclobutane-based chemistry, enabling the study of ring strain and reactivity in small cyclic systems. Additionally, it is employed in research focused on stereochemistry, aiding in the exploration of chiral molecules and their applications in asymmetric synthesis.