This compound is primarily utilized in the field of organic synthesis, where it serves as a key intermediate in the production of various pharmaceuticals. Its unique bicyclic structure makes it a valuable building block for the development of complex molecules, particularly in the synthesis of drugs targeting neurological disorders. Additionally, it is employed in the creation of chiral catalysts, which are essential for asymmetric synthesis, enabling the production of enantiomerically pure substances. This chemical is also explored in research for its potential applications in the development of new therapeutic agents and bioactive compounds.