This compound is primarily used in the synthesis of pharmaceuticals, particularly in the development of central nervous system (CNS) drugs. Its structure is valuable for creating intermediates that are essential in producing tropane alkaloids, which have applications in treating neurological disorders. Additionally, it serves as a key building block in organic synthesis for constructing complex molecules with potential therapeutic effects. Its role in medicinal chemistry is significant due to its ability to enhance the bioavailability and stability of drug candidates.