This compound is primarily utilized in the field of organic synthesis, where it serves as a versatile intermediate for the development of more complex chemical structures. Its oxetane and cyano functional groups make it particularly valuable in the synthesis of pharmaceuticals, enabling the creation of molecules with potential therapeutic properties. Additionally, it is employed in the production of agrochemicals, contributing to the development of new pesticides or herbicides. The ester group in the compound also allows for further chemical modifications, making it a useful building block in materials science for designing polymers or coatings with specific properties. Its application extends to research and development, where it is used to explore novel chemical reactions and pathways.