This compound is primarily utilized in organic synthesis as a versatile building block for the creation of complex molecular structures. It serves as a key intermediate in the development of pharmaceuticals, particularly in the synthesis of alkaloids and other bioactive molecules. Its bicyclic structure provides a rigid framework that can be functionalized to produce compounds with specific stereochemical properties, which are crucial in drug design. Additionally, it is employed in research settings to study reaction mechanisms and develop new synthetic methodologies, particularly in the field of asymmetric catalysis. Its unique structure also makes it a valuable tool in the exploration of novel chemical spaces for potential therapeutic agents.