This chemical is primarily utilized in organic synthesis, particularly in the development of pharmaceuticals and agrochemicals. Its unique bicyclic structure makes it a valuable building block for creating complex molecules. It is often employed in cross-coupling reactions, such as the Suzuki or Sonogashira reactions, to introduce the bicyclo[1.1.1]pentane moiety into target compounds. This moiety is known for its ability to mimic phenyl groups while offering improved metabolic stability and solubility, making it advantageous in drug design. Additionally, it is used in materials science for the synthesis of advanced polymers and functionalized materials with specific properties. Its reactivity with various reagents also makes it a useful intermediate in research and industrial applications.