Used as a key intermediate in organic synthesis, particularly in the preparation of pharmaceuticals and fine chemicals. Its structure allows for functionalization at multiple sites, making it valuable in constructing complex molecules. Commonly employed in cyclization and condensation reactions to form heterocyclic compounds. Also utilized in the development of active pharmaceutical ingredients (APIs) where a cyclobutane scaffold is required. Its ester and ketone groups enable further derivatization, supporting its role in medicinal chemistry research and drug discovery.