Used as a key reagent in organic synthesis, particularly in the preparation of cyclopentenone derivatives through the Nef reaction or related transformations. Its structure allows for efficient enolate formation and subsequent carbon-carbon bond formation, making it valuable in the synthesis of complex natural products and pharmaceutical intermediates. Commonly employed in ring-forming reactions and in the development of prostaglandin analogs. Also utilized in the construction of five-membered carbocyclic systems in medicinal chemistry due to its stability and reactivity profile.