Used primarily in organic synthesis as a building block for complex polycyclic compounds, this compound serves as a key intermediate in the development of pharmaceuticals and bioactive molecules. Its rigid tricyclic framework and reactive enone functionality make it valuable in cycloaddition reactions and photochemical transformations. It is also employed in the study of stereochemistry and molecular recognition due to its well-defined three-dimensional structure. Additionally, derivatives of this compound have shown potential in materials science, particularly in designing organic semiconductors and fluorescent probes.