This compound is primarily utilized in organic synthesis as a versatile intermediate. Its structure, featuring a cyclopropane ring and a benzyloxy group, makes it valuable for constructing complex molecules in pharmaceutical research. It is often employed in the development of bioactive compounds, particularly in the synthesis of potential drug candidates targeting various diseases. The cyclopropane moiety is known to impart unique conformational properties, which can enhance the biological activity of the resulting molecules. Additionally, it serves as a building block in the preparation of fine chemicals and specialty materials, where its reactivity can be tailored for specific applications.