This compound is primarily utilized in the field of organic synthesis, particularly in the development of pharmaceuticals. It serves as a key intermediate in the synthesis of complex molecules, especially those targeting neurological and cardiovascular diseases. The Boc (tert-butoxycarbonyl) protecting group in the structure is crucial for safeguarding the amine functionality during multi-step synthetic processes, allowing for selective reactions to occur elsewhere in the molecule. Its bicyclic framework is often exploited in the design of drugs that require rigid, three-dimensional structures to interact effectively with biological targets. Additionally, the hydroxyl group provides a site for further functionalization, enabling the attachment of various pharmacophores to enhance drug efficacy or modify pharmacokinetic properties. This chemical is particularly valuable in medicinal chemistry for constructing nitrogen-containing heterocycles, which are prevalent in many therapeutic agents.