Used primarily as a key intermediate in the synthesis of pharmaceuticals, especially in the development of prostaglandin analogs. Its strained bicyclic structure and reactive ketone functionality make it valuable in constructing complex organic molecules through ring-opening and functionalization reactions. It is also employed in asymmetric synthesis to introduce chiral centers, useful in creating biologically active compounds. Additionally, it serves in research settings for exploring novel cyclization pathways and developing new synthetic methodologies in medicinal chemistry.