This compound is primarily utilized in the field of organic synthesis, where it serves as a key intermediate in the production of various pharmaceuticals and biologically active molecules. Its unique bicyclic structure makes it a valuable building block for constructing complex chemical frameworks, particularly in the development of drugs targeting neurological and metabolic disorders. Additionally, it is employed in the synthesis of heterocyclic compounds, which are often explored for their potential therapeutic properties. Researchers also leverage its reactivity in the design of novel materials and catalysts, contributing to advancements in chemical engineering and material science.