This compound is primarily utilized in the field of organic synthesis as a chiral building block. Its rigid cyclopropane ring and phenyl group make it valuable for constructing complex molecules with specific stereochemistry. It is often employed in the development of pharmaceuticals, particularly in the synthesis of drugs that require precise three-dimensional arrangements to interact effectively with biological targets. Additionally, it serves as a precursor in the preparation of ligands for asymmetric catalysis, enhancing the efficiency and selectivity of chemical reactions. Its unique structure also makes it a candidate for studying strain-induced reactivity in organic chemistry research.