This compound is primarily utilized in the field of organic synthesis, where it serves as a key intermediate in the production of more complex molecules. Its unique bicyclic structure makes it valuable for constructing frameworks that are often found in natural products and pharmaceuticals. Researchers leverage its reactivity to develop novel compounds with potential applications in drug discovery, particularly in the design of molecules with specific biological activities. Additionally, it may be used in the synthesis of fragrances or flavoring agents due to its structural characteristics that can contribute to unique scent profiles. Its role in these areas highlights its importance in advancing both medicinal chemistry and industrial applications.