This racemic compound is primarily utilized in organic synthesis as a chiral building block for the preparation of complex molecules, particularly in pharmaceutical research. Its bicyclic structure and chiral centers make it valuable for constructing intermediates in the development of biologically active compounds. It is often employed in asymmetric synthesis to introduce specific stereochemistry into target molecules, which is crucial for the efficacy and selectivity of drugs. Additionally, it serves as a precursor in the synthesis of natural products and other fine chemicals, where precise control over molecular geometry is required. Its application extends to catalysis and material science, where its unique structure can influence the properties of the final product.