This chemical is primarily utilized in organic synthesis as a versatile intermediate for the production of various pharmaceuticals and biologically active compounds. Its unique bicyclic structure makes it a valuable building block in the development of complex molecules, particularly in the synthesis of alkaloids and other nitrogen-containing heterocycles. Additionally, it is employed in the creation of chiral catalysts and ligands, which are essential in asymmetric synthesis to produce enantiomerically pure compounds. Its application extends to the field of medicinal chemistry, where it is used to design and synthesize potential drug candidates with specific therapeutic properties.