This compound is primarily utilized in organic synthesis as a building block for more complex molecules. Its cyclobutane ring structure makes it valuable in the development of pharmaceuticals, particularly in the creation of novel drug candidates with specific stereochemistry. Additionally, it can be used in the production of specialty chemicals, such as polymers or agrochemicals, where its unique structure may impart desired properties. In research, it serves as a model compound for studying ring strain and reactivity in cyclobutane derivatives. Its isopropyl group also provides opportunities for further functionalization, making it versatile in synthetic chemistry applications.