Used primarily as a key intermediate in the synthesis of fluorinated pharmaceuticals and agrochemicals. Its unique structure with chlorine and fluorine substituents enhances reactivity in cross-coupling reactions, making it valuable in the development of biologically active compounds. Commonly employed in the preparation of beta-lactam analogs and enzyme inhibitors due to its strained cyclobutene ring and electron-withdrawing functional groups. Also utilized in medicinal chemistry for modifying drug candidates to improve metabolic stability and binding affinity.