This compound is primarily utilized in the field of organic synthesis and medicinal chemistry as a building block for the development of complex molecules. Its unique bicyclic structure and functional groups make it a valuable intermediate in the synthesis of pharmaceuticals, particularly for creating compounds with potential therapeutic effects. It is also employed in the design of peptidomimetics, which are molecules that mimic the structure and function of peptides, aiding in drug discovery and development. Additionally, its rigid framework is useful in the study of molecular recognition and the development of enzyme inhibitors.