This compound is primarily utilized in the field of medicinal chemistry as a key intermediate in the synthesis of various biologically active molecules. Its unique bicyclic structure makes it valuable in the development of compounds targeting the central nervous system, particularly for the treatment of neurological disorders. It is also explored in the creation of potential therapeutic agents for conditions like depression, anxiety, and chronic pain due to its ability to interact with specific neurotransmitter systems. Additionally, its structural features are leveraged in the design of novel pharmaceuticals with improved efficacy and reduced side effects.