Used in organic synthesis as a chiral building block for the preparation of complex natural products and bioactive molecules. Its strained bicyclic framework and hydroxyl functional group make it valuable in asymmetric synthesis and medicinal chemistry research. Commonly employed in the development of pharmaceutical intermediates, particularly in the design of compounds with specific stereochemical requirements. Also utilized in the study of ring-opening reactions and cyclization processes due to its unique fused ring system and alkene functionality.