This compound is primarily utilized in the field of pharmaceutical research and development. It serves as a key intermediate in the synthesis of various biologically active molecules, particularly those targeting neurological and cardiovascular disorders. Its unique bicyclic structure makes it valuable for designing drugs that interact with specific enzymes or receptors in the body. Additionally, it is employed in the preparation of chiral compounds, aiding in the study of stereochemistry and the development of enantiomerically pure drugs. Its application extends to medicinal chemistry, where it is used to explore new therapeutic agents with improved efficacy and reduced side effects.