This compound is primarily utilized in the synthesis of complex organic molecules, particularly in the pharmaceutical industry. It serves as a key intermediate in the production of various drugs, especially those targeting neurological and cardiovascular conditions. Its unique cyclobutane structure allows for the creation of stereospecific compounds, enhancing the efficacy and selectivity of the final pharmaceutical products. Additionally, it is employed in research and development for exploring new therapeutic agents due to its potential bioactivity. In material science, it is used to develop novel polymers with specific mechanical and thermal properties, contributing to advancements in high-performance materials.