Used primarily in organic synthesis, this compound serves as a key intermediate in the production of various pharmaceuticals and agrochemicals. Its structure allows for the introduction of cyclobutane rings into complex molecules, which can enhance biological activity or stability. Additionally, it is employed in research settings for the development of novel compounds with potential therapeutic applications, particularly in the fields of oncology and neurology. Its bromophenyl group makes it a versatile building block for further functionalization through cross-coupling reactions.