Used as an intermediate in organic synthesis, particularly in the development of pharmaceuticals. It serves as a building block in the preparation of adamantane-based derivatives, which are explored for their antiviral, antiparkinsonian, and neuroprotective properties. Also employed in the design of enzyme inhibitors due to the stability and lipophilicity imparted by the adamantyl group. Its structure is useful in medicinal chemistry for enhancing metabolic stability and membrane permeability in drug candidates.