This chemical is primarily utilized in organic synthesis as a versatile intermediate. It is often employed in the construction of complex molecular structures, particularly in the development of pharmaceuticals and agrochemicals. Its bicyclic framework makes it a valuable building block for creating compounds with specific stereochemistry, which is crucial in drug design. Additionally, it can be used in the synthesis of natural products and bioactive molecules, where its unique ring system contributes to the desired biological activity. In research, it serves as a key precursor for studying reaction mechanisms and developing new synthetic methodologies.