This compound is primarily utilized in the pharmaceutical and organic synthesis industries as a versatile intermediate. Its structure, featuring both cyano and hydroxyl groups on an azetidine ring, makes it valuable for constructing complex molecules, particularly in the development of bioactive compounds and drug candidates. It is often employed in the synthesis of small molecule inhibitors and modulators targeting various biological pathways. Additionally, its tert-butyl ester group provides stability and ease of manipulation during chemical reactions, making it a useful building block in medicinal chemistry efforts.