This compound is primarily utilized in organic synthesis as an intermediate in the production of various pharmaceuticals and agrochemicals. Its structure, featuring a bromophenyl group and a cyclobutanol ring, makes it a valuable building block for constructing more complex molecules. It is often employed in cross-coupling reactions, such as Suzuki or Heck reactions, to create biologically active compounds. Additionally, it can serve as a precursor in the development of materials with potential applications in organic electronics or liquid crystals. Researchers also explore its use in the synthesis of ligands for catalysis in asymmetric synthesis, contributing to the production of enantiomerically pure substances.