Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of active ingredients for central nervous system (CNS) drugs and anti-inflammatory agents. Its structure allows for ring-opening and functional group transformations, making it valuable in building complex cyclobutane-containing molecules. Commonly employed in medicinal chemistry for constructing beta-amino acids and cyclic analogs in drug design. Also utilized in agrochemical research for creating novel herbicides and plant growth regulators due to its stability and reactivity in catalytic reactions.