Used primarily as a key intermediate in the synthesis of β-lactam antibiotics, this compound plays a critical role in the development of penicillin and cephalosporin-class antimicrobial agents. Its strained four-membered ring structure enables high reactivity, making it valuable in forming the core scaffold of various pharmaceuticals. It is also employed in research for designing novel enzyme inhibitors and in the preparation of specialty polymers with controlled degradation properties. Due to its reactivity, it is handled under controlled conditions in industrial and laboratory settings.