This compound is primarily utilized in the field of organic synthesis as a key intermediate for the preparation of more complex molecules. Its unique bicyclic structure makes it valuable in the development of pharmaceuticals, particularly in the synthesis of compounds with potential biological activity. It is often employed in the construction of nitrogen-containing heterocycles, which are common motifs in many drugs and agrochemicals. Additionally, its reactivity allows for modifications that can lead to the creation of novel compounds with specific properties, making it a versatile tool in medicinal chemistry research.