Primarily utilized in pharmaceutical research and development, this compound serves as a key intermediate in the synthesis of various bioactive molecules. Its structure is particularly valuable in the design of drugs targeting the central nervous system, such as those for treating neurological disorders or mental health conditions. Additionally, it is employed in the preparation of compounds with potential analgesic or anti-inflammatory properties. Its bicyclic framework and functional groups make it a versatile building block in medicinal chemistry, enabling the creation of complex molecules with specific biological activities.