Used primarily as a synthetic intermediate in organic chemistry, this compound serves in the preparation of complex cyclic structures, especially in pharmaceutical and agrochemical synthesis. Its strained bicyclic framework makes it valuable in ring-opening and cycloaddition reactions, enabling the construction of functionalized cyclohexane and cyclopropane derivatives. It is also employed in the development of chiral building blocks for bioactive molecules due to its rigid geometry and potential for stereoselective transformations.