This compound is primarily utilized in the field of medicinal chemistry and drug development. It serves as a key building block in the synthesis of various pharmaceutical agents, particularly those targeting neurological disorders. The oxetane ring in its structure enhances metabolic stability and bioavailability, making it valuable in the design of small molecule drugs. Additionally, it is employed in the development of enzyme inhibitors and receptor modulators due to its ability to interact with biological targets effectively. Its unique structure also finds applications in the creation of novel bioactive compounds for research purposes.