This compound is primarily utilized in organic synthesis as a building block for more complex molecules. Its unique bicyclo[1.1.1]pentane structure makes it valuable in the development of pharmaceuticals, particularly in the design of drugs that require rigid, three-dimensional frameworks. It is also employed in materials science for creating polymers with specific properties, such as enhanced stability or unique mechanical characteristics. Additionally, its ester and carboxylic acid functional groups allow for further chemical modifications, making it versatile in various research and industrial applications.