This compound is primarily utilized in the field of medicinal chemistry and drug development. It serves as a key intermediate in the synthesis of various biologically active molecules, particularly those targeting central nervous system disorders. Its structure, featuring an azetidine ring, is valuable for creating compounds with potential therapeutic effects, such as neuroprotective or antipsychotic agents. Researchers also explore its use in designing ligands for specific receptors, aiding in the discovery of new drugs for neurological and psychiatric conditions. Additionally, its benzhydryl group contributes to enhancing the lipophilicity and bioavailability of the resulting compounds, making it a valuable building block in pharmaceutical research.