This compound is primarily utilized in organic synthesis as a building block for the preparation of more complex molecules, particularly in the pharmaceutical industry. It serves as a key intermediate in the development of active pharmaceutical ingredients (APIs) and is often employed in the synthesis of bicyclic structures that are crucial in drug design. Its tert-butoxycarbonyl (Boc) protecting group is particularly valuable in peptide synthesis, where it safeguards amine functionalities during reactions, allowing for selective deprotection at a later stage. Additionally, the compound's bicyclic framework is of interest in medicinal chemistry for creating molecules with enhanced stability and bioavailability, making it a valuable tool in the discovery and optimization of new therapeutic agents.