This compound is primarily utilized in organic synthesis as a versatile intermediate for the development of more complex chemical structures. It is particularly valuable in the synthesis of pharmaceutical compounds, where its bicyclic framework serves as a key building block for active pharmaceutical ingredients (APIs). Additionally, it finds application in the preparation of ligands for catalysis, aiding in the development of asymmetric synthesis processes. Its unique structure also makes it useful in the study of reaction mechanisms and in the design of novel organic materials.