This compound is primarily utilized in the field of organic synthesis as a key intermediate for the development of more complex molecules. Its structure, featuring an azetidinone ring, makes it valuable in the synthesis of β-lactam antibiotics, which are crucial in treating bacterial infections. The presence of the benzyl and phenyl groups allows for further functionalization, enabling the creation of diverse derivatives with potential pharmacological activities. Additionally, the iodoethyl group provides a reactive site for coupling reactions, facilitating the construction of larger molecular frameworks. This chemical is particularly significant in medicinal chemistry research, where it aids in the design and optimization of new drug candidates targeting various diseases.