This compound is primarily utilized in the field of organic synthesis and medicinal chemistry as a key intermediate in the development of pharmaceutical agents. Its structure, featuring both azetidine and benzyl groups, makes it valuable for constructing molecules with potential biological activity. It is often employed in the synthesis of compounds targeting neurological disorders, such as Alzheimer's disease, due to its ability to modulate specific receptors or enzymes in the brain. Additionally, it serves as a building block for creating peptidomimetics, which are peptide-like molecules designed to mimic the function of natural peptides in drug development. Its hydrochloride form enhances solubility, making it more suitable for use in various experimental and industrial processes.