This compound is primarily utilized in organic synthesis as a versatile intermediate for the preparation of more complex molecules. It is particularly valuable in the development of pharmaceuticals, where it serves as a building block for the synthesis of active pharmaceutical ingredients (APIs). Its structure, featuring both an acetoxy and a carboxylate group, allows for selective modifications, making it useful in the creation of heterocyclic compounds. Additionally, it finds application in the production of agrochemicals and fine chemicals, where its reactivity and stability under various conditions are advantageous. Researchers also employ it in the study of chemical reactions and mechanisms, particularly those involving azetidine rings, which are of interest due to their biological activity.