This chemical is primarily utilized in organic synthesis, particularly as an intermediate in the development of complex organic compounds. Its unique tricyclic structure makes it valuable in the synthesis of pharmaceuticals, where it can serve as a building block for active pharmaceutical ingredients (APIs). Additionally, it is employed in the research and development of novel drug candidates, especially in the fields of neurology and oncology, due to its potential to interact with biological targets. Its application also extends to material science, where it can be used in the creation of specialized polymers and coatings with specific mechanical or chemical properties.