This compound is primarily utilized in the field of organic synthesis, particularly as an intermediate in the production of more complex molecules. Its bicyclic structure makes it valuable for constructing pharmacologically active compounds, especially in the development of drugs targeting the central nervous system. Researchers often employ it in the synthesis of novel therapeutic agents due to its ability to introduce specific functional groups into a molecular framework. Additionally, it serves as a key building block in the preparation of heterocyclic compounds, which are widely explored for their potential in medicinal chemistry. Its stability and reactivity also make it a suitable candidate for use in stereoselective reactions, aiding in the creation of chiral molecules with high precision.